3 125 tave Netlog Expenses Cost of goods sold Operating expenses Depreciation expense LOEB on sale of land Interest expense Income tax expense Total expenses Net Income 32,516,000 $1,500,000 760,000 10.000 7.100 10.500 32 000 2,342,600 8173.400 VIDEO PHONES, THC. balance sheets December 31 2021 2920 $145,460 21,100 105,000 8,640 5 69,180 51,000 125,000 4,320 Assets Current assets Cash Accounts receivable Inventory Prepaid rent Long-term assets Investments Land Equipment Accumulated depreciation Total assets Liabilities and Stockholders Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity 16,000 201,000 252,000 (58200) $821.000 0 222,000 201.000 (40,200) $633,300 $ 57,900 5.100 14,100 $ 72,000 8,200 13,100 267,000 216,000 210,000 266,900 $821,000 210,000 114,000 $633,300 Additional Information for 2021: 1. Purchase investment in bonds for $96,000. 2. Sell land costing $21,000 for only $13,900, resulting in a $7.100 loss on sale of land. 3. Purchase $51,000 in equipment by issuing a $51,000 long-term note payable to the seller. No cash is exchanged in the trans 4. Declare and pay a cash dividend of $20.500. Prey 1 of 18 Next > Required: Prepare the statement of cash flows using the Indirect method. Disclose any noncash transactions in an accompanying note. (List cash outflows and any decrease in cash as negative amounts.) VIDEO PHONES, INC. Statement of Cash Flows For the Year Ended December 31, 2021 Cash Flows from Operating Activities Adjustments to reconcile net income to net cash flows from operating activities Net cash flows from operating activities Cash Flows from Investing Activities: Net cash flows from investing activities Cash Flows from Financing Activities: Match from finna thane Prey 1 of 18 !!! Next >