Instructions 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 the year. 1 Cash flows from operating activities: Shasta Inc. Statement of Cash Flows For the Year Ended December 31, 20Y9 2 Net income 3 Adjustments to reconcile net income to net cash flow from operating activities: 4 Depreciation 5 Gain on sale of investments 6 Changes in current operating assets and liabilities: 7 Increase in accounts receivable 8 Increase in inventories 9 Increase in accounts payable 10 Decrease in accrued expenses payable 11 Net cash flow from operating activities 12 13 Cash flows from investing activities: 14 Cash received from sale of investments 15 Cash paid for purchase of land 16 Cash paid for purchase of equipment 17 Net cash flow used for investing activities 18 19 Cash flows from financing activities: $360,000.00 100,800.00 17,280.00 27,360.00 (36,000.00) (3,600.00) (2,400.00) $463,440.00 $240,000.00 (259,200.00) (432,000.00) 20 Cash received from sale of common stock $312,000.00 21 Cash paid for dividends 22 Net cash flow from financing activities 23 Change in cash 24 Cash at the end of the year 25 Cash at the beginning of the year (415,200.00) (132,000.00) 180,000.00 $47,760.00 192,240.00 $240,000.00