Need assistance completing accounting assignment 16.09 attached

Following is an incorrectly prepared statement of cash flows for Herman Corporation. Review and correct this presentation, using a direct approach. HERMAN CORPORATION Statement of Cash Flows For the Year Ending December 31, 20X2 Cash balance at January 1, 20X2 $ 175,000 Cash receipts during 20X2 Sale of building $ Dividend received on investments 800,000 10,000 Cash received from customers 2,350,000 Proceeds from issuing stock 1,400,000 4,560,000 Cash payments during 20X2 Purchase of inventory Interest on loans Income taxes Repayment of long-term note payable $ 760,000 56,000 124,000 2,000,000 Purchase of equipment 435,000 Selling and administrative expenses 696,000 Dividends on common 175,000 Cash balance at December 31, 20X2 (4,246,000) $ 489,000 $ 450,000 ----------------------------------------------------------------------------------Noncash investing/financing activities: Bought land by issuing promissory note payable HERMAN CORPORATION Statement of Cash Flows For the Year Ending December 31, 20X2