The Luh Company's 2014 cash flow statement appears below, in its functional currency. New Taiwan dollars (NT$)

Additional information:
1. Exchange rates: January 1, 2014: $0.042/NT$; December 31, 2014: $0.039/NT$; 2014 average: $0.04/NT$.
2. Changes in current operating assets and liabilities and dividend payments occurred at the average rate.
3. Common stock was issued and plant assets were acquired when the rate was $0.0423/NT$.
4. The long-term investments were sold and the long-term debt was retired when the rate was $0.0394/NT$.
Required
Convert the above statement of cash flows into dollars. Include a computation of the effect of exchange rate changes on cash.

Transcribed Image Text:

THE LUH COMPANY Statement of Cash Flows For Year Ended December 31, 2014 (in thousands) Operating Activities Net income Depreciation and amortization expense.·····.. , . .. . . .. Gain on sale of long-term investments. Decrease in other current operating assets.. Decrease in current operating liabilities.... NT$100,000 45,000 4.000) . . . . . . . . . . . . . 24,000 (32,000) 133,000 Cash provided by operating activities Investing Activities (85,000) 50,000 Sale of long-terrm investments. (35,000) Cash used in investing activities.... Financing Activities Retirement of long-term debt..r^nnar.** Issuance of common stock .~..-.-. Dividends paid.. (98,000) 170,000 (65,000) 7,000 105,000 210,000 NT$315,000 Cash provided by financing activities Increase in cash.-.*-*^^u**uue. Cash balance, December 31, 2014