Problem 11-4A 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, Inc., are provided. r 31, 2021 3,136,000 Cost of goods sold Operating expenses Depreciation expense Loss on sale of land $2,050,000 878,000 29,000 8,200 16,000 50,000 Total expenses 3.031.200 S 104,800 VIDEO PEONES, INC Balance Sheets 2021 2020 Cash Accounts zeceivable $179,720 $160,760 62,000 105,000137,000 6,240 83,200 12,480 107,000 Prepaid rent Long-term aasets: 212,000244,000 Land tex of 4Next> work Help Save & Ex Ches 31 $179,720 $160,760 83,20062,000 137,000 6,240 105,000 12,480 107,000 Inventory Land 212,000244,000 274,000 212,000 (71.400) (42 400) $902,000 $779,600 Accumulated depreciation Total assets Liabilities and Stookholders' Equity s 67,800 83,000 10,400 payable 6,200 tax 15,200 4,200 liabilities: 289,000227,000 320,000320,000 203,800125,000 $902,000 $779,600 Additional Information for 2021: 1. Purchase investment in bonds for $107000. 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. Deciare and pay a cash dividend of $26,000. 1 of 4lI Prev Next > in an accompanying note. (L outflows and any decrease in cash as negative amounts.) Statement of Cash Flows For the Year E Ad Prey 10f 41 Next > at the end of the period