I have already created the Statement of Cash flow, but I am off by being over $17,675.$ I need help balancing the ending cash.

Information for Awesome Clothes, Inc. is listed below. Use the below information to prepare a statement of Cash Flows for the Year Ended December $31,2023.$

Additional Information:

a$.$ A gain of $17,500$ was recored for the sale of equipment.

b$.$ Cash received from the sale of equipment was $125,000$

c$.$ Long$-$term Investments were purchased for $95,000$

d$.$ Cash received from sale of land was $815,000$

e$.$ dividends declared were $210,000$

f$.$ Cash received from issuing note payable $400,000$

Awesome Clothes, Inc.

Income Statement

For the Year Ended December $31,2023$

Dec. $21,2023$ Dec. $21,2022$

Sales $4,892,000$

Net Sales $4,892,000$

Cost of goods Sold $(1,525,000)$

Gross Profit $3,367,000$

Operating Expenses:

Salaries Expense $35,250$

Insurance Expense $50,000$

Supplies Expense $20,000$

Depreciation Expense $39,600$

Advertising Expense $100,000$

Interest Expense $18,000$

Total Operating Expenses $262,850$

Income from Operations $3,104,150$

Other Income$/$Expense:

Loss on sales of equipment $17,500$

Net Income $3,121,650$

Awesome Clothes, Inc.

Comparative Balance Sheet

December $31,2023$ & $2022$

Dec $31,2023---$Dec $31,2022$

Assets

Cash $5,617,250---1,551,870$

Accounts Receivable $296,400---305,780$

Inventory $950,000---810,000$

Office Supplies $75,000---95,000$

Prepaid Insurance $180,000---130,000$

Long$-$term Investments $395,000---300,000$

Land $1,500,000---2,315,000$

Equipment $450,000---575,000$

Accumulated Depreciation $(314,500)---(376,500)$

Total Assets $9,149,150---5,188,650$

Liabilities & Equity

Accounts Payable $725,000---803,500$

Unearned Revenue $80,000---225,000$

Salaries Payable $65,900---30,650$

Dividends Payable $180,000---134,500$

Note Payable $400,000-$

Common Stock $2,000,000---1,935,000$

Paid in Capital $350,000---225,000$

Retained Earnings $5,348,250---2,352,500$

Total Liability & Equity: $9,149,150---5,706,150$

Awesome Clothes, Inc.

Statement of Cash Flows

For the Year End December $31,2023$

Cash Flows from Operating Activities

Net Income$-3,121,650$

Loss on Sales Equipment $-17,500$

Depreciation Expense $-39,600$

Decrease on Accounts Receivable$-9,380$

Increase in Inventory $-(140,000)$

Decrease in Office Supplies $-20,000$

Increase in Prepaid Insurance $-(50,000)$

Decrease in Accounts Payable $-(78,500)$

Decrease in Unearned Revenue $-(145,000)$

Increase in Salaries Payable $-35,250$

Net cash from Operating Activities $-2,812,555$

Cash Flows from Investing Activities

Cash used to Purchase L$-$T Investments$-(95,000)$

Cash Received from Sale of Land $-815,000$

Cash Received from Sale of Equipment $-125,000$

Net cash from Investing Activities $-845,000$

Cash Flows from Financing Activities

Cash Used to Pay Dividends $-(164,500)$

Cash Received from Issuing Note Payable $-400,000$

Cash Received from sale of Common Stock$-190,000$

Net cash from Financing Activities $-425,500$

Net Increase in Cash $-4,083,055$

Beginning Cash Balance$-12/31/20221,551,870$

Ending Cash Balance$-12/31/20235,634,925---$ Off by $+17,675$

The ending cash balance needs to be $5,617,250.$