I need help figuring out the amounts for each one and the last description that is in red. I have tried multiple labels and they all say wrong. please help!

The first two screenshots are the instructions and then the labels and the last picture is the homework

THANK YOU!

Instructions The comparative balance sheet of Canace Products Inc. for December 31, 2016 and 2015, is shown as follows: 1 Dec 31, 2046 Dec 31, 2045 2 Assets 3 Cash $679,400.00 $643,400.00 566,800.00 4 Accounts receivable (net) 547,400.00 5 Inventories 1,011,000.00 982,800.00 6 Investments 0.00 240,000.00 7 Land 520,000.00 0.00 880,000.00 8 Equipment 9 Accumulated depreciation 680,000.00 (200,400.00) (244,400.00) $3,376,800.00 $2,929,200.00 11 $771,800.00 $748,400.00 63,400.00 70,800.00 10 Total assets Liabilities and Stockholders' Equity 12 Accounts payable 13 Accrued expenses payable 14 Dividends payable 15 Common stock, $2 par 16 Paid-in capital: Excess of issue price over par-common stock 17 Retained earnings 13 Total Liabilities and stockholders'equity 8,800.00 6,400.00 56,000.00 32,000.00 408,000.00 2.068,800.00 $3,376,800.00 192,000.00 1,879,600.00 $2,929,200.00 The income statement for the year ended December 31, 20Y6, is as follows: 1 Sales $5,980,000.00 2.452,000.00 2 Cost of merchandise sold $3,528,000.00 3 Gross profit 4 Operating expenses: Depreciation expense 5 $44,000.00 3,100,000.00 7 3,144,000.00 $384,000.00 Other operating expenses Total operating expenses 8 Operating income 9 Other expense: 10 Loss on sale of investments 11 Income before income tax 12 Income tax expense (64,000.00) $320,000.00 102,800.00 13 Net income $217,200.00 Additional data obtained from an examination of the accounts in the ledger for 2016 are as follows: A. Equipment and land were acquired for cash. B. There were no disposals of equipment during the year. C. The investments were sold for $176,000 cash D. The common stock was issued for cash. E. There was a $28,000 debit to Retained Earnings for cash dividends declared. Labels and Amount Descriptions Cash used for dividends Cash used for purchase of equipment Cash used for purchase of land Cash paid for purchase of treasury stock Cash payments for income taxes Cash payments for merchandise Cash payments for operating expenses Cash received from customers Cash from sale of common stock Cash from sale of investments December 31, 2046 Decrease in cash Depreciation expense For the Year Ended December 31, 2046 Gain on sale of investments Increase in cash Issuance of common stock for acquisition of land Issuance of common stock for purchase of equipment Loss on sale of investments Net cash flow from financing activities Net cash flow from investing activities Net cash flow from operating activities Net cash flow used for financing activities Net cash flow used for investing activities Net cash flow used for operating activities Score: 63/132 Canace Products Inc. Statement of Cash Flows For the Year Ended December 31, 2046 2 3 1 Cash flows from operating activities: Cash received from customers Cash payments for merchandise Cash payments for operating expenses Cash payments for income taxes Net cash flow from operating activities 4 5 6 7 8 Cash flows from (used for) investing activities: Cash from sale of investments 10 Cash used for purchase of land 11 Cash used for purchase of equipment 12 13 14 Cash flows from (used for) financing activities: 15 Cash from sale of common stock 16 Cash used for dividends Net cash flow from financing activities 18 Decrease in cash 17 19 Cash at the beginning of the year 20 Cash at the end of the year