Sullivan's Island Company began operating a subsidiary in a foreign country on January $1,2024,$ by investing capital in the amount

of $61,000$ pounds. The subsidiary immediately borrowed $158,000$ pounds on a five$-$year note with $10$ percent interest payable

annually beginning on January $1,2025.$ The subsidiary then purchased for $219,000$ 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 $8,600$ pounds per month. By year$-$end, rent payments totaling $86,000$

pounds had been received, and $17,200$ pounds was in accounts receivable. On October $1,2024,4,500$ 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 $31,2024.$ The functional currency for the subsidiary is the pound. Currency exchange rates for $1$ pound follow:

January $1,2024$

October $1,2024$

December $31,2024$

Average for $2024$

$$1\mathrm{.}70=1$ Pound

$1\mathrm{.}75=1$ Pound

$1\mathrm{.}78=1$ Pound

$1\mathrm{.}74=1$ 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.

Note: Round your exchange rate answers to $2$ decimal places. Amounts to be deducted and cash outflows should be indicated

with minus sign.