206) The income statement, balance sheets, and additional information for Communication Accessories are provided. Con munication Accessories Income Statement For the Year Ended December 31, 2021 $2,800,000 4,000 2.804.000 Revenues Gain on sale of land Total revenues Expenses Cost of goods sold Operating expenses Depreciation expense Interest expense Income tax expense Total expenses Net Income 1.900.000 575.000 38.000 16,000 63.000 2.592.000 $212.000 Communication Accessories Balance Sheets December 31 2020 2021 Assets Current Assets: S187,000 95,000 138,000 5,000 S182,000 83,000 121.000 7,000 Cash Accounts receivable Inventory Prepaid rent Long-Term Assets: Investment in stock Land Equipment Accumulated depreciation Total Assets Liabilities and Stockholders' Equity Current Liabilities Accounts payable Interest payable Income tax payable Long-Term Liabilities: Notes payable Stockholders' Equity: Common stock Retained earnings Total Liabilities and Equity 195,000 230,000 305,000 (138.000 $985.000 100,000 260,000 225,000 (100.000 $910.000 $40,000 1,000 12,000 S58,000 2,000 10,000 205,000 285.000 350,000 285.000 $910.000 350,000 297.000 $985.000 Additional Information for 2021: 1. Purchase additional investment in stocks for $95,000. 2. Sell land costing $30,000 for $34,000 resulting in a $4,000 gain on sale of land. 3. Purchase $80,000 in equipment by borrowing $80,000 with a note payable due in three years. No cash is exchanged in the transaction. 4. The company declares and pays a cash dividend of $200,000. Required: Prepare the statement of cash flows for Communication Accessories using the direct method. Disclose any noncash transactions in an accompanying