The statement of cash flows the accounting clerk prepared is shown below. Ina Shores Inc. Statement of Cash Flows For the Year Ended December 31, 2023 Cash Flow from Operating Activities Net Income $328,280 Adjustments to Reconcile Net Income to Net Cash Provided (Used) by Operating Activities Depreciation Expense 30,600 Changes in Operating Assets and Liabilities Increase in Accounts Receivable 62,800 Decrease in Merchandise Inventory (77,400) Increase in Accounts Payable 82,200 Sale of Equipment 72,000 Purchase of Equipment (500,000) Net Cash Provided (Used) by Operating Activities ($1,520) Cash Flow from Investing Activities Proceeds from Notes Payable 110,000 Net Cash Provided (Used) by Investing Activities 110,000 Cash Flow from Financing Activities Payment of Cash Dividend (100,000) Proceeds from Issuance of Common Stock 100,000 Net Cash Provided (Used) by Financing Activities 0 Net Increase (Decrease) in Cash 108,480 Cash at the Beginning of the Year 229,600 Cash at the End of the Year $338,080

b) Prepare a corrected statement of cash flows. b) Prepare a corrected statement of cash flows