Business, 03.05.2021 14:30 shondra20

Purchase investment in bonds for $99,000. Sell land costing $24,000 for only $16,600, resulting in a $7,400 loss on sale of land. Purchase $54,000 in equipment by issuing a $54,000 long-term note payable to the seller. No cash is exchanged in the transaction. Declare and pay a cash dividend of $22,000. Required: Prepare the statement of cash flows for Video Phones, Inc., using the direct method. Disclose any noncash transactions in an accompanying note. (List cash outflows and any decrease in cash as negative amounts.)

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Purchase investment in bonds for $99,000. Sell land costing $24,000 for only $16,600, resulting in a...

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