Green Corporation, a Wholly Owned British Subsidiary of a U

Green Corporation, a wholly owned British subsidiary of a U.S.firm began the year with 1,300,000 British pounds in net assets.The subsidiary incurred a 65,000 British pound net loss for 2016.The subsidiary issued common stock for 100,000 British pounds on November 15, 2016.Assume the following exchange rates for 2016:
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$$\begin{array} { l r } \text { Date } & \text { B British pound equal to } \\ \text { January } 1,2016 & \$ 1.10 \\\text { November } 15,2016 & \$ 1.15 \\\text { December } 31,2016 & \$ 1.13 \\\text { 2016 average } & \$ 1.14\end{array}$$ Required:
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Compute the translation adjustment for 2016 using the direct method.