elan, a u.s. corporation, completed the december 31, 20x8, foreign currency translation of its 70 percent owned swiss subsidiary's trial balance using the current rate method. the translation resulted in a debit adjustment of $25,000. the subsidiary had reported net income of 800,000 swiss francs for 20x8 and paid dividends of 50,000 swiss francs on september 1, 20x8. the translation rates for the year were: