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Problem 11-4B Prepare a statement of cash flows-indirect method (LO11-2, 11-3) The income statement, balance sheets, and additional information for Virtual Gaming Systems are provided.

Problem 11-4B Prepare a statement of cash flows-indirect method (LO11-2, 11-3)

The income statement, balance sheets, and additional information for Virtual Gaming Systems are provided.

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Problem 11-4B Prepare a statement of cash flows indirect method (LO11-2, 11-3) The income statement, balance sheets, and additional information for Virtual Gaming Systems are provided. VIRTUAL GAMING SYSTEMS Income Statement For the Year Ended December 31, 2018 Net sales 2,530,000 3,500 Gain on sale of land Total revenues 2,533,500 Expenses Cost of goods sold 1,615,000 608,000 Operating expenses 26,000 Depreciation expense Interest expense 27,000 73.000 Income tax expense 2,349,000 Total expenses Net income 84,500

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