value: 3.00 points Problem 11-4A Prepare a statement of cash flows - indirect method (LO11-2, 11-3) The income statement, balance sheets, and additional information for Video Phones, Inc., are provided VIDEO PHONES, INC Income Statement For the Year Ended December 31, 2018 Net sales Expenses $2,516,000 Cost of goods sold Operating expenses Depreciation expense Loss on sale of land Interest expense Income tax expense $1,500,000 768,000 18,000 7,100 10,500 39,000 Total expenses 2,342,600 Net income 173,400 VIDEO PHONES, INC Balance Sheet December 31 2018 2017 Assets Current assets Cash Accounts receivable Inventory Prepaid rent 145,460 $ 71,100 105,000 8,640 69,180 51,000 126,000 4,320