Sullivan's Island Company began operating a subsidiary in a foreign country on January $1,2024,$ by investing capital in the amount of $65,000$ pounds. The subsidiary immediately borrowed $149,000$ pounds on a five$-$year note with $10$ percent interest payable annually beginning on January $1,2025.$ The subsidiary then purchased for $214,000$ pounds a building that had a $10-$year expected life and no salvage value and is to be depreciated using the straight$-$line method. Also on January $1,2024,$ the subsidiary rented the building for three years to a group of local attorneys for $7,400$ pounds per month. By year$-$end, rent payments totaling $74,000$ pounds had been received, and $14,800$ pounds was in accounts receivable. On October $1,2024,4,900$ pounds was paid for a repair made to the building. The subsidiary transferred a cash dividend of $11,400$ pounds back to Sullivan's Island Company on December $31,2024.$ The functional currency for the subsidiary is the pound. Currency exchange rates for $1$ pound follow: $\backslash$table$[[$SULLIVAN$\text{'}$S ISLAND COMPANY$],[$Statement of Cash Flows$],[,$Pounds,Exchange Rate,U$.$S$.$ Dollars$],[$Operating Activities:$],[,,,],[,,,],[,,,],[,,,],[,,,],[$Cash flow from operating activities,$0,,0],[$Investing Activities:$],[,,,],[,,,],[$Cash flow from investing activities,$$,,$$$],[$Financing Activities:$],[,,,],[,,,],[,,,],[,,,],[$Cash flow from financing activities,$0,,0],[,,,],[$Effect of exchange rate change on cash$],[$Beginning balance in cash$],[$Ending balance in cash,$0,,$$$]]$

January $1,2024$ $ $1\mathrm{.}50=1$ Pound

October $1,20241\mathrm{.}55=1$ Pound

December $31,20241\mathrm{.}58=1$ Pound

Average for $20241\mathrm{.}54=1$ Pound

Required:

Prepare a statement of cash flows in pounds for Sullivan's Island Company's foreign subsidiary, and then translate this statement into U$.$S$.$ dollars.