Canopy Financial Inc. has a statement of cash flows (for the year 2008) that does not reconcile. Use the following information to adjust the cash flows for 2008. Use the following information to do so in the below format.

Original and needed information:

New (correct) format for the reconciled statement of cash flows:

Canopy Financial, Inc. Consolidated Statements of Cash Flows Years ended December 31, 2008 and 2007 Cash flows from operating activities: Net income Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation and amortization 2008 2007 S 3,572,646 1,239,147 Changes in operating assets and liabilities: Accounts receivable Other accrued expenses Accounts payable Net cash provided by operating activities 451,808 612,804 (1,684,775) (1,467,299) (1,698,495) (2,005,049) (540,622) (388,520) 100,562 (2,008,917) Cash flows from investing activities: Proceeds from sale of furniture and equipment 11,365 15,455 Purchases of furniture and equipment (6,910,235) (610,743) Purchases of assets from related party (2,000,000) Capitalization of internal use software development costs (721,890) Net cash used in investing activities (9,620,760) (595,288) Cash flows from financing activities: Proceeds from issuance of stock 8,000,000 5,000,000 Proceeds from debt financing 1,302,650 1,050,284 Net cash provided by financing activities 9,302,650 6,050,284 Net increase (decrease) in cash and cash equivalents S (217,548) 3,446,079 Cash and cash equivalents at beginning of year S 7,139,482 3,693,403 Cash and cash equivalents at end of year S 6,921.934 7,139,482