Translate the following C code to MIPS assembly code. Initialize the variable factorial to 1, and calculate the factorial of 5 using a for loop. The result should be stored in the variable factorial. Assume that the value of factorial is stored in register $s0. If needed, you may use mul instruction. For example, mul $t0, $t0, $t1 performs a multiplication operation between the contents registers $t0 and $t1, and stores the result in register $t0.

C Code:

int factorial = 1;

for (int i = 1; i <= 5; i++) {

factorial *= i;

}