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The income statement, balance sheets, and additional information for Video Phones, incorporated, are provided. Additional...

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Accounting

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The income statement, balance sheets, and additional information for Video Phones, incorporated, are provided. Additional Information for 2024 : 1. Purchased investment in bonds for $95,000. 2. Sold land for $13,000. The land originally was purchased for $2,0,000. resulting in a $7,000 loss being recorded at the time of the sole: 3. Purchased $50,000 in equipment by issuing a $50,000 long term note payable to the sellen No cash was exchanged in the transaction. 4. Declared and paid a cash dividend of $20,000. Required: Prepare the statement of cash flows using the indirect method, Disclose any noncosh transoctions in an accompanying note (Amounts to be deducted, cash outflows, and any decrease in cash should be indicoted with o minus sign.) VIDEO PHONES, INCORPORAIED Statement of Cash Flows For the Year Ended December 31, 2024 Cash Flows from Operating Activities

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