Portions of the financial statements for Avatar Technologies are provided below. Required: Prepare the operating activities section of the statement of cash flows for Avatar Technologies using the direct method. (Amounts to be deducted should be indicated with a minus sign.) The income statement, balance sheets, and additional information for Video Phones, Incorporated, are provided. Additional Information for 2024: 1. Purchased investment in bonds for $95,000. 2. Sold land for $13,000. The land originally was purchased for $20,000, resulting in a $7,000 loss being recorded at the time of the sale. 3. Purchased $50,000 in equipment by issuing a $50,000 long-term note payable to the seller. No cash was exchanged in the transaction. 4. Declared and paid a cash dividend of $20,000. Required: Prepare the statement of cash flows for Video Phones, Incorporated, using the direct 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.) Prepare the statement of cash flows for Video Phones, Incorporated, using the direct 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.)