Problem 11-48 Prepare a statement of cash flows -indirect method (L02, 3) The income statement, balance sheet, and additional information for Virtual Gaming Systems are provided. Additional Information for 2015: 1. Purchase additional investment in stocks for $94,000. 2. Sell land costing $54,500 for $61,000, resulting in a $6,500 gain on sale of land. 3. Purchase $29,000 in equipment by borrowing $29,000 with a note payable due in three years. No cash is exchanged in the transaction. 4. Declare and pay a cash dividend of $119,000. 5. Issue common stock for $59,000. 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 amounts.)