Problem 11-4A (Algo) Prepare a statement of cash flows-indirect method (LO11-2, 11-3, 11-4, 11-5) The income statement, balance sheets, and additional information for Video Phones, Incorporated, are provided Net income VIDEO PINOLES, INCORPORATED' Balance Sheets Deceifher 31 Assets 20242023 Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investments Land Equipment. Accumulated depreciation Total assets Liabilities and Stockholders" Equity Current liabilities: Accounts payable Interest payable Incone tax payable Long-tern Irabilities: Notes payable 5teckholders' equity: Common stock: Retained earnines Total 1iabilities and stockholders' equity \begin{tabular}{rr} 96,600 & 0 \\ 201,000 & 222,600 \\ 252,000 & 201,000 \\ (58,200) & (40,200) \\ \hline$821,000 & $633,300 \\ \hline \end{tabular} Additional Information for 2024: 1. Purchased investment in bonds for $96,000. 2. Sold land for $13.900. The land originally was purchased for $21,000, resulting in a $7100 loss being recorded at the time of the sale. 3. Purchased $51,000 in equipment by issuing a $51.000 long term note payable to the sellec. No cash was exchanged in the transaction. 4. Declared and paid a cash dividend of $20,500. Required: Prepare the statement of cash flows using the indirectmethod. Disclose any noncash transactions in an accompanying note. (Amounts to be deducted, cosh outflows, and any decrease in cash should be indicated with a minus sign.) 5tatoment of Cash Flows For the Year Ended December 31,2024 Cash Flows from Operating Activities? Adjustments to reconcile net income to net cash fiows from operating activities