The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 20Y2 and 20Y1, is as follows:

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Shasta Inc. Statement of Cash Flows For the Year Ended December 31, 20Y9 Cash flows from (used for) operating activities: Net income..... $ 360,000 Adjustments to reconcile net income to net cash flow from operating activities: Depreciation...... Gain on sale of investments.. Changes in current operating assets and liabilities: 100,800 17,280 Increase in accounts receivable .. 27,360 Increase in inventories .... Increase in accounts payable ..... Decrease in accrued expenses payable.. Net cash flow from operating activities .. Cash flows from (used for) investing activities: (36,000) (3,600) (2,400) $ 463,440 Cash received from sale of investments ... Cash paid for purchase of land .... Cash paid for purchase of equipment .. $ 240,000 (259,200) (432,000) Net cash flow used for investing activities... (415,200) Cash flows from (used for) financing activities: Cash received from sale of common stock... Cash paid for dividends..... Net cash flow from financing activities.. Net increase in cash ....... Cash balance, December 31, 20Y9 Cash balance, January 1, 20Y9.. $312,000 (132,000) 180,000 $ 47,760 192,240 $240,000 Cash flows from (used for) financing activities: Cash received from sale of common stock... Cash paid for dividends..... Net cash flow from financing activities.. Net increase in cash ....... Cash balance, December 31, 20Y9 Cash balance, January 1, 20Y9.. $312,000 (132,000) 180,000 $ 47,760 192,240 $240,000