The income statement, balance sheets, and additional information for Video Phones, Incorporated, are provided.

VIDEO PHONES, INCORPORATED
Income Statement
For the Year Ended December 31, 2024
Net sales		$3,236,000
Expenses:
Cost of goods sold	$2,100,000
Operating expenses	888,000
Depreciation expense	30,000
Loss on sale of land	8,300
Interest expense	16,500
Income tax expense	51,000
Total expenses		3,093,800
Net income		$ 142,200

VIDEO PHONES, INCORPORATED
Balance Sheets
December 31
	2024	2023
Assets
Current assets:
Cash	$226,580	$169,140
Accounts receivable	84,300	63,000
Inventory	105,000	138,000
Prepaid rent	12,720	6,360
Long-term assets:
Investments	108,000	0
Land	213,000	246,000
Equipment	276,000	213,000
Accumulated depreciation	(72,600)	(42,600)
Total assets	$953,000	$792,900
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$ 68,700	$ 84,000
Interest payable	6,300	10,600
Income tax payable	15,300	14,300
Long-term liabilities:
Notes payable	291,000	228,000
Stockholders' equity:
Common stock	330,000	330,000
Retained earnings	241,700	126,000
Total liabilities and stockholders equity	$953,000	$792,900

Additional Information for 2024:

1. Purchased investment in bonds for $108,000.
2. Sold land for $24,700. The land originally was purchased for $33,000, resulting in a $8,300 loss being recorded at the time of the sale.
3. Purchased $63,000 in equipment by issuing a $63,000 long-term note payable to the seller. No cash was exchanged in the transaction.
4. Declared and paid a cash dividend of $26,500.

Required:

Prepare the statement of cash flows using the indirect 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.)