Cash Flows from Operating Activities: Net income 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 O Cash Flows from Financing Activities Net cash flows from financing activities Cash at the beginning of the period Cash at the end of the period $ Note: Noncash ActivitiesThe income statement, balance sheets, and additional information for Video Phones, Inc., are provided. VIDEO PHONES, INC Income Statement For the Year Ended December 31, 2021 Net sales $ 2,936,000 Expenses: Cost of goods sold $ 1,850,000 Operating expenses 838,000 Depreciation expense 25,000 Loss on sale of land 7.800 Interest expense 14,000 Income tax expense 46,000 Total expenses 2,780,800 Net income $ 155,200 VIDEO PHONES, INC. Balance Sheets December 31 2021 2020 Assets Current assets. Cash $ 193,480 $ 127,840 Accounts receivable 78,800 58,000 Inventory 105,000 133,000 Prepaid rent 10,320 5,160 Long-term assets: Investments 103,000 Land 208,000 236,000 Equipment 266,000 208,000 Accumulated depreciation (66,600) (41,600) Total assets $ 898,000 $ 726,400 Liabilities and Stockholders' Equity Current liabilities. Accounts payable $ 64,200 $ 79,000 Interest payable 5,800 9,600 e tax payable 14.800 13,800 Long-term liabilities: Notes payable 281,000 223,000 Stockholders' equity Common stock 280,000 280,000 Retained earnings 252,200 121,000 Total liabilities and stockholders' equity $ 898,000 $ 726,400 Additional Information for 2021: 1. Purchase investment in bonds for $103,000. 2. Sell land costing $28,000 for only $20,200, resulting in a $7,800 loss on sale of land. 3. Purchase $58,000 in equipment by issuing a $58,000 long-term note payable to the seller. No cash is exchanged in the transaction. . Declare and pay a cash dividend of $24,000. equired: epare 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.)