the income statement, blance sheets, and additional information for Vioja Tele Ltd. are provided below:

The income statement, balance sheets, and additional information for Vioja Tele Ltd. are provided below: VIOJA TELE INC Income Statement For the year ended December 31, 2020 Net Sales $ 2,520,000 Cost of goods sold 1,746,000 Gross Profit 774,000 Operating Expenses Depreciation expense 87,000 Other operating expenses 237,000 Operating Income 450,000 Gains and Losses Gain on sale of land 11,700 Loss on sale of equipment (8,360) Net Income $ 453,340 VIOJA TELE INC Balance Sheets December 31 2020 2019 192,780 66.900 131,500 2,860 66,780 81,000 126,000 4.320 117,000 508,200 (84,700) 934,540 200.000 346,000 (100,500) 723,600 Assets Current assets Cash Accounts receivable Inventory Prepaid rent Non-Curret assets Land Equipment Accumulated depreciation - Equipment Total assets Liabilities & Stockholders' Equity Current Liabilities Accounts payable Interest payable Income tax payable Long-term Liabilities Notes payable Stockholders' Equity Common Stock Additional paid-in capital Retained earnings Total Liabilities & Stockholders' Equity 25.500 3.300 31,400 79,000 2,100 33,500 153,000 193,000 70,000 302,000 349,340 934,540 60.000 210,000 146,000 723,600 ADDITIONAL INFORMATION: The company sold land for a gain of $11,700. No other land transaction occurred during the period. 2 The company sold a piece of equipment with an original cost of $122,800 for a loss of $8,360. The company also purchased new equipment. The cost of the new equipment was financed by a $50,000 long-term note and the balance was paid with cash. 3 Common stock was issued for cash. 4 The only changes affecting retained earnings are net income and cash dividends paid. Required: Prepare the statement of cash flows using the indirect method. Disclose any noncash transactions in an accompanying note. (List cash outflows and any decrease in cash as negative amounts.)