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The income statement, balance sheets, and additional information for Video Phones, inc, are provided. VIDEO PHONES, INC. Balance Sheets December 31 Assets Current assets: \begin{tabular}{lrrr} Cash & $ & 254,600 & $227,800 \\ Accounts receivable & 92,000 & 70,000 \\ Inventory & 105,000 & 145,000 \\ Prepaid rent & 14,400 & 7,200 \\ Long-term assets: & & \\ Investments & 115,000 & 0 \\ Land & 220,000 & 260,000 \\ Equipment & 290,000 & 220,000 \\ Accumulated depreciation & (81,000) & (44,000) \\ & $1,010,000 & $886,000 \\ \hline Total assets & $85e15 \\ & \end{tabular} Liabilities and Stockholders' Equity Current liabilities: Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity Additional Information for 2018: 1. Purchase investment in bonds for $115,000 2. Sell land costing $40,000 for only $31,000, resulting in a $9,000 loss on sale of land. 3. Purchase $70,000 in equipment by borrowing $70,000 with a note payable due in three years. No cash is exchanged in the transaction. 4. Declare and pay a cash dividend of $30.000. Required: Prepare the statement of cash flows using the indirect method. Disclose any noncash transactions in an accompanying note. (tist cash outflows and any decrease in cash as negative amounts.)