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if you could please put everything into the same chart formst as the question it would be appreciated so it is easier to follow The
if you could please put everything into the same chart formst as the question it would be appreciated so it is easier to follow
The income statement, balance sheets, and additional information for Video Phones, Inc. are provided 35, 136,000 VIDEO PHONES, INC Income Statement For the Year Ended December 31, 2021 Net sales Expenses Cost of goods sold $2.650,000 Operating expenses 375,000 Depreciation expense 29,000 Loss on sale of land 8,200 Interest expense 16,000 Income tax expense 50.000 Total expenses Net Income 3,031,200 $ 104,500 2031 3020 $ 179,720 13.20 105,000 12,450 $160,760 63.000 137.000 6.240 VIDEO PHONES, INC Balance Sheets December 31 Assets Current assets Cash Accounts receivable Inventory Prepaid rent Long-term assets Investments Land uipent Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long term liabilities Notes payable Stockholders' equity! Con stock 107.000 212,000 274,000 (71400) $92,200 e 244,00 212,000 2400) 5779,600 $ 67,000 6,200 15,200 $ 33,000 10,400 14.20 289.000 227,000 320,000 320.000 Additional Information for 2021: 1. Purchase investment in bonds for $107.000 2 Sell land costing $32,000 for only $23,800, resulting in a $8,200 loss on sale of land 3. Purchase $62,000 in equipment by issuing a $62,000 long-term note payable to the seller. No cash is exchanged in the transaction 4. Declare and pay a cash dividend of $26.000 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 $ 0 Not cash flows from operating activities Cash Flows from Investing Activities $ 0 Net cash flows from operating activities Cash Fows from Investing Activities 0 Net cash flows from investing activities Cash Flows from Financing Activities: Not cash flows from financing activities Cash at the beginning of the period Cash at the end of the period Note: Noncash Activities $ 0 The income statement, balance sheets, and additional information for Video Phones, Inc. are provided 35, 136,000 VIDEO PHONES, INC Income Statement For the Year Ended December 31, 2021 Net sales Expenses Cost of goods sold $2.650,000 Operating expenses 375,000 Depreciation expense 29,000 Loss on sale of land 8,200 Interest expense 16,000 Income tax expense 50.000 Total expenses Net Income 3,031,200 $ 104,500 2031 3020 $ 179,720 13.20 105,000 12,450 $160,760 63.000 137.000 6.240 VIDEO PHONES, INC Balance Sheets December 31 Assets Current assets Cash Accounts receivable Inventory Prepaid rent Long-term assets Investments Land uipent Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long term liabilities Notes payable Stockholders' equity! Con stock 107.000 212,000 274,000 (71400) $92,200 e 244,00 212,000 2400) 5779,600 $ 67,000 6,200 15,200 $ 33,000 10,400 14.20 289.000 227,000 320,000 320.000 Additional Information for 2021: 1. Purchase investment in bonds for $107.000 2 Sell land costing $32,000 for only $23,800, resulting in a $8,200 loss on sale of land 3. Purchase $62,000 in equipment by issuing a $62,000 long-term note payable to the seller. No cash is exchanged in the transaction 4. Declare and pay a cash dividend of $26.000 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 $ 0 Not cash flows from operating activities Cash Flows from Investing Activities $ 0 Net cash flows from operating activities Cash Fows from Investing Activities 0 Net cash flows from investing activities Cash Flows from Financing Activities: Not cash flows from financing activities Cash at the beginning of the period Cash at the end of the period Note: Noncash Activities $ 0 Step by Step Solution
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