Question: Additional information for 2 0 2 1 : 1 . Purchase investment in bonds for $ 1 0 3 , 0 0 0 . 2

Additional information for

2021

1 .

Purchase investment in bonds for $

103, 000 . 2 .

Sell land costing $

28, 000

for only $

20, 200

resulting in a $

7, 800

loss on sale of land.

3 .

Purchase $

58, 000

in equipment by issuing a $

58, 000

long term note payable to the seller. No cash is exchanged in the transaction.

4 .

Declare and pay a cash divident of $

24, 000 .

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 amountsThe income statement, balance sheets, and additional information for Video Phones, Inc., are provided.

VIDEO PHONES, INC.

Income Statement

Sell land costing $28,000 for only $20,200 resulting in a $7,800 loss

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