The opening balance sheet at 1 January 2009 of an Italian company, which accounts in euro consists of cash of EUR 200,000 and share capital of EUR 200,000. The company takes out a long-term loan on 30 June 2009 of US$ 540,000 when the rate of exchange is EUR 1 = US$1.4. The proceeds are immediately converted to euro, that is, EUR 385,714. There are no other transactions during the year. The exchange rate at the balance sheet date, 31 December 2009, is EUR 1 = US$1.6. 

Prepare the statement of cash flows for 2009.