Prepare the statement of cash flows using the indirect method. Disclose any noncash transactions in an accompanying note.

10 1.00 points The income statement, balance sheets, and additional information for Video Phones, Inc., are provided. VIDEO PHONES, INC. For the Year Ended December 31, 2018 Net sales Cost of goods sold $2.200.000 Loss on sale of land 17.500 income tax expense 3.219.000 167.000 DEO PHONES, INC. 270.300 185.900 Accounts receivable Long-term assets: (43.000) 1.005.000 819.500 Total assets Liabilities and Stockholders' Equity 70500 86 000 Accounts payable 11.000 Income tax payable Notes payable 128,000 1.005.000 Total liabilities and stockholders' equity