VIDEO PHONES, INC. Balance Sheets December 31 2921 \\( 202 \\theta \\) Assets Current assets: Cash Accounts receivable \\( \\begin{array}{rr}\\$ 159,180 & \\$ 85,940 \\\\ 73,300 & 53,600 \\\\ 195,090 & 128,600 \\\\ 9,120 & 4,560\\end{array} \\) Inventory Prepaid rent Long-term assets: Investments Land Equipment Accumulated depreciation Total assets Liabilities and Stockholders \" Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable. S. 59,700 \\$ 74,600 5,300 8,600 14,300 13,300 Stockholders ' equity: Conmon stock Retained earnings Total liabilities and stockholders' equity \\( 271,000 \\quad 218,000 \\) \\( 230,000 \\quad 230,000 \\) \\( \\frac{262,700}{\\$ 843,000} \\quad \\frac{116,000}{\\$ 659,900} \\) Additional Information for 2021: 1. Putchase investment in bonds for \\( \\$ 98,000 \\) 2 Sell land costing \\( \\$ 23,000 \\) for only \\( \\$ 15,700 \\), resulting in a \\( \\$ 7,300 \\) loss on sale of land. 3. Purchase \\( \\$ 53.000 \\) in equipment by issuing a \\( \\$ 53.000 \\) longterm note payable to the seller No cash is exchanged in the transaction 4. Declare and pay a cash dividend of \\( \\$ 21,500 \\) Required: Prepare the statement of cash flows using the indirect method. Disclose any noncash transactions in an accompanying note. (List cash Pred. Prepare the statem decreose in cash os negotive omounts.) \\begin{tabular}{|l|l|} \\hline & \\\\ \\hline Net cash flows from operating activities \\\\ \\hline Nash Flows from Investing Activities: \\\\ \\hline Net cash flows from investing activities \\\\ \\hline Nows from Financing Activities: \\\\ \\hline Cash at the beginning of the period \\\\ \\hline Note. Noncash Activities \\\\ \\hline \\end{tabular}