Problem 11-4A Prepare a statement of cash flows

Problem 11-4A Prepare a statement of cash flows-Indirect method (L011-2, 11-3, 11-4, 11-5) The income statement, balance sheets, and additional Information for Video Phones, Inc. are provided. $3,136.000 VIDEO PHONES, INC. Income Statement For the Year Ended December 31, 2021 Net sales Expenses: Cost of goods sold $2,050, eee Operating expenses 878,eee Depreciation expense 29.000 Loss on sale of land 8,200 Interest expense 16.000 Income tax expense se.ee Total expenses Net Income 3, 231,200 $ 164.88 VIDEO PHONES, INC. Balance Sheets December 31 $179.720 83.2ee 105. 12,4 $160,76 62,00 137.00 6,240 212.ee 274,000 244,00 5.902, eee 5779.00 Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Tnvestments Land Equipment Accumulated depreciation Total assets Liabilities and Stockholders County Currt lilities: Accounts payable Interest payable Trice tak payable Long-tere bilirses: Nate pe Stocolders equity Can Rewards Total TO 6,200 $ 83.000 15.2 14.20 299,00 Additional Information for 2021 1 Purchase investment in bonds for $107.000. 2 Sell land costing $32,000 for only $23.800, resulting in a $8.200 loss on sale of land. 3. Purchase $62,000 in equipment by Issuing a $62,000 long-term note payable to the seller. No cash is exchanged in the transaction 4. Declare and pay a cash didend of $26.000. 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.) Outnows and any decrease in cash as negative amounts.) VIDEO PHONES, INC. Statement of Cash Flows For the Year Ended December 31, 2021 Cash Flows from Operating Activities: Adjustments to reconcile net income to net cash flows from operating activities: Net cash flows from operating activities Cash Flows from Investing Activities: Net cash flows from investing activities Cash Flows from Financing Activities: Net cash flows from financing activities Cash at the beginning of the period Cash at the end of the period Note: Noncash Activites