The Video World Company operates a chain of video game arcades. Among Video World's activities in 20X0 were the following: 1. The firm traded four old video games to another amusement company for one new Ninja Gators game. The old games could have been sold for a total of $4,000 cash. 2. The company paid off $100,000 of long-term debt by paying $40,000 cash and signing a $60,000 6-month note payable. 3. The firm issued debt for $65,000 cash, all of which was used to purchase new games for its Down Town Arcade. 4. The company purchased the building in which one of its arcades was located by assuming the $250,000 mortgage on the structure and paying $40,000 cash. 5. Debt holders converted $65,000 of debt to common stock. 6. The firm refinanced debt by paying cash to buy back an old issue at its call price of $37,000 and issued new debt at a lower interest rate for $37,000. Requirement 1. Prepare a schedule of noncash investing and financing activities to accompany a statement of cash flows. (Leave any unused cells blank.) Schedule of Noncash Investing and Financing Activities Exchange of assets 7