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value: 3.00 points Yo Problem 11-4A Prepare a statement of cash flows -Indirect method (LO11-2,...

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Accounting

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value: 3.00 points Yo Problem 11-4A Prepare a statement of cash flows -Indirect method (LO11-2, 11-3) The income statement, balance sheets, and additional information for Video Phones, Inc., are provided. VIDEO PHONES, INC Income Statement the Year Ended December 31, 2018 Net sales S 2,816,000 $1,750,000 818,000 23,000 7,600 13,000 44,000 Cost of goods sold Depreciation expense Loss on sale of land Interest expense Income tax expense Total expenses 2,655,600 Net income S160,400 VIDEO PHONES, INC. Balance Sheet December 31 2018 2017 Assets Current assets: Cash Accounts receivable Inventory Prepaid rent S179.760S111,080 56.000 131,000 4,920 76,600 105.000 9,840 Long-term assets: 101,000 206,00098 Land 232,000 NoV 1 20 MacBo

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