Sullivan's Island Company began operating a subsidiary in a foreign country on January 1, 2017, by investing capital in the amount of 59,000 pounds. The subsidiary immediately borrowed 139,000 pounds on a five-year note with 10 percent interest payable annually beginning on January 1, 2018. The subsidiary then purchased for 198,000 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, 2017, the subsidiary rented the building for three years to a group of local attorneys for 8,500 pounds per month. By year-end, rent payments totaling 85,000 pounds had been received, and 17,000 pounds was in accounts receivable. On October 1, 4,400 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, 2017. The functional currency for the subsidiary is the pound. Currency exchange rates for 1 pound follow:

January 1, 2017	$	2.40	=	1 Pound
October 1, 2017		2.45	=	1
December 31, 2017		2.48	=	1
Average for 2017		2.44	=	1

Prepare a statement of cash flows in pounds for Sullivan's Island Company's foreign subsidiary and then translate these amounts into U.S. dollars. (Round your exchange rate answers to 2 decimal places. Amounts to be deducted and cash outflows should be indicated with minus sign.)

SULLIVANS ISLAND COMPANY
Statement of Cash Flows
	Pounds	Exchange Rate	U.S. Dollars
Operating Activities:
Net income
Add: Depreciation expenses
Less: Increase in accounts receivable
Add: Increase in interest payable
Cash flow from operating activities	0		0
Investing Activities:
Purchase of building
Cash flow from investing activities
Financing Activities:
Capital contribution
Borrowing on note
Dividends
Cash flow from financing activities	0		0
Increase in cash
Effect of exchange rate change on cash
Beginning balance in cash
Ending balance in cash	0		$0