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.

$360,000 100,800 17,280 27,360 (36,000) (3,600) (2,400) Shasta Inc. Statement of Cash Flows For the Year Ended December 31, 2049 Cash flows from (used for) operating activities: Net income... Adjustments to reconcile net income to net cash flow from operating activities: Depreciation..... Gain on sale of investments....... Changes in current operating assets and liabilities: Increase in accounts receivable. Increase in inventories ...... Increase in accounts payable. Decrease in accrued expenses payable. Net cash flow from operating activities Cash flows from (used for) investing activities: Cash received from sale of investments. Cash paid for purchase of land ..... Cash paid for purchase of equipment... Net cash flow used for investing activities.. Cash flows from (used for) financing activities: Cash received from sale of common stock.. Cash paid for dividends..... Net cash flow from financing activities. Net increase in cash ...... Cash balance, December 31, 2049 Cash balance, January 1, 2049.. $ 463,440 $ 240,000 (259,200) (432,000) (415,200) $312,000 (132,000) 180,000 $ 47,760 192,240 $ 240,000