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ash Flow Statement Conversion

The Luh Company's $2023$ cash flow statement appears below, in its functional currency, New Taiwan dollars $($NT$$).$

The Luh Company

Statement of Cash Flows

For the Year Ended December $31,2023$

$($inmillions$)$

Operating Activities

Net income NT$ $100,000$

Depreciation and amortization expense $45,000$

Gain on sale of long$-$term investments$`(4,000)$

Decrease in other current operating assets $24,000$

Decrease in current operating liabilities $(32,000)$

Cash provided by operating activities $133,000$

Investing Activities

Acquisition of plant assets $(85,000)$

Sale of long$-$term investments $50,000$

Cash used in investing activities $(35,000)$

Financing Activities

Retirement of long$-$term debt $(98,000)$

Issuance of common stock $170,000$

Dividends paid $(65,000)$

Cash provided by financing activities $7,000$

Increase in cash $105,000$

Cash balance, January $1,2023210,000$

Cash balance, December $31,2023$ NT$ $315,000$

Additional information:

Exchange rates: January $1,2023$: $$0\mathrm{.}038/$NT$; December $31,2023$: $$0\mathrm{.}042/$NT$; $2023$ average: $$0\mathrm{.}041/$NT$$.$

Changes in current operating assets and liabilities and dividend payments occurred at the average rate.

Common stock was issued and plant assets were acquired when the rate was $$0\mathrm{.}0395/$NT$$.$

The long$-$term investments were sold and the long$-$term debt was retired when the rate was $$0\mathrm{.}039/$NT$$.$

Convert the above statement of cash flows into dollars. Include a computation of the effect of exchange rate changes on cash.

Instructions:

Enter answers using all decimal places, when appropriate $($do not round answers$).$

Use negative signs with your answers when needed $($to indicate a decrease in cash$).$

The Luh Company

Statement of Cash Flows

For the Year Ended December $31,2023$

$($in millions$)$ NT$ $$/$NT$ $

Operating Activities

Net income NT$ $100,000$ Answer $1$

$0$

Answer $2$

$0$

Depreciation and amortization expense $45,000$ Answer $3$

$0$

Answer $4$

$0$

Gain on sale of long$-$term investments$`(4,000)$ Answer $5$

$0$

Answer $6$

$0$

Decrease in other current operating assets $24,000$ Answer $7$

$0$

Answer $8$

$0$

Decrease in current operating liabilities $(32,000)$ Answer $9$

$0$

Answer $10$

$0$

Cash provided by operating activities $133,000$ Answer $11$

$0$

Investing Activities

Acquisition of plant assets $(85,000)$ Answer $12$

$0$

Answer $13$

$0$

Sale of long$-$term investments $50,000$ Answer $14$

$0$

Answer $15$

$0$

Cash used in investing activities $(35,000)$ Answer $16$

$0$

Financing Activities

Retirement of long$-$term debt $(98,000)$ Answer $17$

$0$

Answer $18$

$0$

Issuance of common stock $170,000$ Answer $19$

$0$

Answer $20$

$0$

Dividends paid $(65,000)$ Answer $21$

$0$

Answer $22$

$0$

Cash provided by financing activities $7,000$ Answer $23$

$0$

Effect of exchange rates changes on cash calculate below Answer $24$

$0$

Increase in cash $105,000$

Cash balance, January $1,2023210,000$ Answer $25$

$0$

Answer $26$

$0$

Cash balance, December $31,2023$ NT$ $315,000$ Answer $27$

$0$

Answer $28$

$0$

Effect of exchange rates

changes on cash

NT$

$$/$NT$

$

$($in millions$)$

Beginning cash balance NT$$210,000$ Answer $29$

$0$

Answer $30$

$0$

Cash provided by operations $133,000$ Answer $31$

$0$

Answer $32$

$0$

Sale of long$-$term investments $50,000$ Answer $33$

$0$

Answer $34$

$0$

Proceeds from stock issuance $170,000$ Answer $35$

$0$

Answer $36$

$0$

Acquisition of plant assets: $(85,000)$ Answer $37$

$0$

Answer $38$

$0$

Retirement of long$-$term debt $(98,000)$ Answer $39$

$0$

Answer $40$

$0$

Dividends paid $(65,000)$ Answer $41$

$0$

Answer $42$

$0$

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