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please explain through words and calculation 22. Darron Co. was formed on...

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Accounting

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22. Darron Co. was formed on January 1, 2018 as a wholly owned foreign subsidiary of a U.S. corporation. Darron's functional currency was the stickle (8). The following transactions and events occurred during 2018: Jan. 1 June 30 Dec. 31 Darron issued common stock for $1,000,000. Darron paid dividends of $20,000. Darron reported net income of $80,000 for the year. Exchange rates for 2018 were: Jan. 1 June 30 Dec. 31 Weighted average rate for the year $1 = $.48 $1 = $.46 $1 = $.42 $1 = 8.44 What was the amount of the translation adjustment for 2018? a. $52,000 decrease in relative value of net assets. b. $60,800 decrease in relative value of net assets. c. $61,200 decrease in relative value of net assets. d. $466,400 increase in relative value of net assets. e. $26,000 increase in relative value of net assets

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