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.

Shasta Inc.

Statement of Cash Flows

For the Year Ended December 31, 20Y9

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

	a. Answer the questions in the Questions panel. Use your answers to help you in locating errors for the above statement of cash flows.
	b. Enter the corrected amounts in the Questions panel. Use the minus sign to indicate cash outflows, cash payments, and decreases in cash.
	c. Based on the corrected amounts and the fact that the correct cash balance at the beginning of the year was $240,000, enter the corrected amounts for the increase in cash and the cash balance at the end of the year.