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The income statement, balance sheets, and additional information for Video Phones, Incorporated, ore provided. Additional information for 2024: 1. Purchesed investment in bonds for $107,000

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The income statement, balance sheets, and additional information for Video Phones, Incorporated, ore provided. Additional information for 2024: 1. Purchesed investment in bonds for $107,000 2. Sold land for $23,800. The land originally was purchased for $32,000, resulting in a $8,200 loss being recorded at the time of the sole. 3. Purchesed $62,000 in equipment by issuing o $62,000 long-term note payable to the seller. No cash was exchanged in the transection 4. Deciored and poid a cash dividend of $26,000. Statement of Cash Flows For the Year Ended December 31, 2024 Cash Flows from Operating Activities: Net income $104,800 Adjustments to reconcile net income to net cash flows from operating activities: Net cash flows from operating activities Cash Flows from Investing Activities. Purchase investment in bonds Proceeds from sale of land Net cash flows from investing activities Cash Flows from Financing Activities Payment of cash dividends $(26,000) Net cash flows from financing activities Net increase in cash Cash at the beginning of the period Cash at the end of the period Note: Noncash Activities Purchase equipment by issuing a note payable

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