Sullivan's Island Company began operating a subsidiary in a foreign country on January $1,2020,$ by investing capital in the amount of $65,000$ pounds. The subsidiary immediately borrowed $142,000$ pounds on a five$-$year note with $10$ percent interest payable annually beginning on January $1,2021.$ The subsidiary then purchased for $207,000$ 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 $1,2020,$ the subsidiary rented the building for three years to a group of local attorneys for $7,600$ pounds per month. By year$-$end, rent payments totaling $76,000$ pounds had been received, and $15,200$ pounds was in accounts receivable. On October $1,2020,3,100$ pounds was paid for a repair made to the building. The subsidiary transferred a cash dividend of $12,900$ pounds back to Sullivan's Island Company on December $31,2020.$ The functional currency for the subsidiary is the pound. Currency exchange rates for $1$ pound follow:

$\backslash$table$[[$January $1,2020,$$$1\mathrm{.}90=1$ Pound$],[$October $1,2020,1\mathrm{.}95=1$