There are no missing details regarding period coverage. The full question is provided. thanks!

QUESTION 3 Randell Limited is a fashion trading company located in Hong Kong. The firm prepare financial statements on a monthly basis. The following are the latest financial statements Randell Limited Income Statement For the Year ended December 31, 2018 $ 818,000 $ 438,000 Sales Cost of goods sold Gross profit $ 380,000 $ 28,000 $ 298,000 Depreciation expense Selling, general and other admin expenses Income from operations Loss on equipment sale Less: $ 54,000 $ 6,000 $ 48,000 $ 24,000 $ 24,000 Income before income taxes Income tax expense Net Income Randell Limited Comparative Statement of Financial Position As at December 31 2018 2017 Cash 115,000 31,000 Term Deposits (60-days) 5,000 49,000 Accounts receivable 110,000 96,000 53,000 Inventory 37,000 %24 Prepaid expenses 30,000 40,000 57,600 Land 95,600 Building Less: Acc. depreciation 200,000 200,000 (16,000) (34,000) 166,000 184,000 160,000 Equipment 116,000 Less: Acc. depreciation (30,000) 120,000 86,000 (40,000) 660,600 614,600 Total Assets Accounts payable 2$ 75,300 49,000 Bonds payable 200,000 400,000 Common stock 200,000 Retained earnings 185,300 165,600 Total Liabilities and Equity 660,600 614,600 %24 %24 %24 %24 Randell has recently hired an accounting trainee, Patrick Ko, who has prepared the statement of cash flow based on the financial statements above, along with the following information: All property, plant and equipment acquired during the year are paid in cash. During the year, equipment was sold for $18,000 with a cost and net book value being $44,000 and $24,000 respectively. Randell has converted $200,000 of it's bonds into common stock during the year. The firm has declared and paid a cash dividend in 2018. Randell Limited Statement of cash Flows Cash flows from financing activities $ 26,300 Increase in accounts payable $ 26,300 Net cash provided by financing activities Cash flows from operating activities Increase in retained earnings Adjustments to net cash provided by operating activities: $ 19,700 $ 14,000 Increase in accounts receivable Decrease in prepaid expenses 10,000 $ (18,000) Sale of equipment 6,000 Net cash provided by operating activities 25,700 Cash flows from investing activities $ 38,000 (6,000) Purchase of land Loss on sale of equipment $ 32,000 Net cash provided by investing activities $ 84,000 Net increase in cash $ 31,000 Cash at beginning of period $ 115,000 Cash at end of period After finishing preparing the statement of cash flows, Patrick was very happy knowing that he can reconcile the cash balance. Required: Using the following table, list the mistakes and suggest corrections on the statement of cash flows prepared by Patrick (an example is included here for your reference). Show working on your computations if any. MISTAKES IN THE STATEMENT OF CASH FLOWS (SCF). The period coverage is missing from the SCF CORRECTION Include "For the Year ended December 31, 2018" as a heading under "Statement of Cash Flows