Virtual gaming systems balance sheets december 31 2018 2017 assets current assets: cash $ 409,500 $ 343,800 accounts receivable 64,000 80,000 inventory 160,000 145,000 prepaid rent 4,600 7,200 long-term assets: investments 205,000 110,000 land 215,000 270,000 equipment 250,000 220,000 accumulated depreciation (143,000) (110,000) total assets $ 1,165,100 $ 1,066,000 liabilities and stockholders' equity current liabilities: accounts payable $ 35,000 $ 98,000 interest payable 5,100 4,000 income tax payable 25,000 29,000 long-term liabilities: notes payable 265,000 235,000 stockholders' equity: common stock 460,000 400,000 retained earnings 375,000 300,000 total liabilities and stockholders’ equity $ 1,165,100 $ 1,066,000 additional information for 2018: 1. purchase additional investment in stocks for $95,000. 2. sell land costing $55,000 for $62,000, resulting in a $7,000 gain on sale of land. 3. purchase $30,000 in equipment by issuing a $30,000 long-term note payable to the seller. no cash is exchanged in the transaction. 4. declare and pay a cash dividend of $120,000. 5. issue common stock for $60,000. required: prepare the statement of cash flows using the indirect method. disclose any noncash transactions in an accompanying note. (list cash outflows and any decrease in cash as negative amounts.)