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The income statement, balance sheets, and additional information for Video Phones, Incorporated, are provided. vroto rhokes, INCondorutro Income statminent VIDEO PHORTS, inCohponstro Balance shenta Decenber 31 Xaseta current assetai VIDEO PHONES, INCORPORATED Balance sheeta December 31 2024 Assets Current anetat Cash Accounta receivable Inventory Prepaid rent Long-term assetet Inventments Land Equipment Accumulated depreciation Total anseta Liabilitiee and stockholdern' Equity Current Iiabilitiea: Accounta payable Interent payable Income tax payable Long-term liabilitien: Noten payable stookholdera' equity I Common itoek Retained earningm Total liabilities and atockholdere' eguity Additional Information for 2024: Duephaend inumetmant in hande fret tof nan Additional Information for 2024: 1. Purchased investment in bonds for $96,000. 2. Sold land for $13,900. The land originally was purchased for $21,000, resulting in a $7,100 loss being recorded at the time of the sale. 3. Purchased $51,000 in equipment by issuing a $51,000 long-term note payable to the seller. No cash was exchanged in the transaction. 4. Declared and paid a cash dividend of $20,500. Required: Prepare the statement of cash flows using the indirect method. Disclose any noncash transactions in an accompanying note. (Amounts to be deducted, cash outflows, and any decrease in cash should be indicated with a minus sign.) Cash Flows from Operating Activities

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