The Income statement, balance sheets, and additional Information for Video Phones, Incorporated, are provided.

Addltional Informatlon for $2024$:

Purchased Investment In bonds for $$114,000.$

$2$ Sold land for $$30,100.$ The land originally was purchased for $$39,000,$ resulting in a $$8,900$ loss being recorded at the time of the sale.

Purchased $$69,000$ in equipment by Issuing a $$69,000$ long$-$term note payable to the seller. No cash was exchanged in the transaction.

Declared and pald a cash dividend of $$29,500$

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$7$ of $7$

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