List the errors you find in the following statement of cash flows. The cash balance at the beginning of the year was $240,000. All other amounts are correct, except the cash balance at the end of theyear.

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Shasta Inc. Statement of Cash Flows For the Year Ended December 31, 2014 Cash flows from operating activities: 5360,000 Adjustments to reconcile net income to net cash flow from operating activities: 100,800 17,280 Gain on sale of investments Changes in current operating assets and liabilities: Increase in inventories.... Increase in accounts payable.. Decrease in accrued expenses payable.. . 27,360 (36,000) (3,600) (2,400) Net cash flow from operating activities $463,440 Cash flows from investing activities: Cash received from sale of investments ......_............. $240,000 Less: Cash paid for purchase of land . . . . . . . . . . . . . . . . . . Net cash flow used for investing activities. Cash received from sale of common stock............... Net cash flow from financing activities........_.......... ..S259,200 Cash paid for purchase of equipment........... 432,000 691,200 (415,200) Cash flows from financing activities: 312,000 132000 180,000 47,760 192,240 5240,000 Cash at the end of the year Cash at the beginning of the year................ .. ....