The income statement, balance sheets, and additional information for Video Phones, Incorporated, are provided. Additional Information for $2024$:

Purchased investment in bonds for $$103,000.$

Sold land for $$20,200.$ The land originally was purchased for $$28,000,$ resulting in a $$7,800$ loss being recorded at the time

of the sale.

Purchased $$58,000$ in equipment by issuing a $$58,000$ long$-$term note payable to the seller. No cash was exchanged in the

transaction.

Declared and paid a cash dividend of $$24,000.$

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.$)$