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Problem 11-4B (Algo) Prepare a statement of cash flows-indirect method (LO11-2, 11.3, 11-4, 11-5) The income statement, balance sheets; and additional information for Virtual Gaming
Problem 11-4B (Algo) Prepare a statement of cash flows-indirect method (LO11-2, 11.3, 11-4, 11-5) The income statement, balance sheets; and additional information for Virtual Gaming Systems are provided, Additional Information for 2024: 1. Purchased additional investment in stocks for $82.000. 2. Sold land for $54,000. The land originally was purchased for $48,500, resulting in a $5,500 gain being recorded at the time of the sale. 3. Purchased $17,000 in equipment by issuing a $17,000 long-term note payoble to the seller. No cash was exchanged in the transaction. 4. Declared and paid a cash dividend of $107,000. 5. Issued common stock for $47,000. Required: (Amounts to be deducted, cash outhows, and any decrease in cash should be indicated with a minus sign.)
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