The income statement, balance sheets, and additional information for Video Phones, Incorporated, are provided. Additionol...
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The income statement, balance sheets, and additional information for Video Phones, Incorporated, are provided. Additionol Informotion for 2024 : 1. Puchased investment in bonds for $98,000 2 Sold Hand for $15,700. The land originally was purchased for $2,3.000, resulting in a $7.300. loss being recorded at the time of the sale: transaction. 1. Purchased investment in bonds for $98,000. 2 Sold land for $15,700. The land origlnally was purchased for $23,000, resulting in a $7,300 loss being recorded at the time of the sale. 3. Purchased $53,000 in equipment by issuing a $53,000 long-term note payable to the seller. No cash was exchanged in the transaction. 4. Declared and paid a cash dividend of $21,500 Required: Prepare the statement of cash flows using the indirect method. Disclose any noncash transactions in an accompanying note. (Amounts to be deducted, cash outflows, and any decreose in cash should be indicoted with o minus sign.)
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