Question: help finish this statement of cash flows (indirect method) Required information Exercise 16-12 (Static) Indirect: Preparing statement of cash flows LO P2, P3, A1 [The

![A1 [The following information applies to the questions displayed below.] The following](https://s3.amazonaws.com/si.experts.images/answers/2024/08/66b4c259abd00_26566b4c2590d37a.jpg)
Required information Exercise 16-12 (Static) Indirect: Preparing statement of cash flows LO P2, P3, A1 [The following information applies to the questions displayed below.] The following financlal statements and additional information are reported. Additional Information a. A $30,000 notes payable is retired at its $30,000 carrying (book) value in exchange for cash. b. The only changes affecting retained earnings are net income and cash dividends paid. c. New equipment is acquired for $57,600cash. d. Received cash for the sale of equipment that had cost $48,600, yielding a $2,000 gain. e. Prepaid Expenses and Wages Payable relate to Operating Expenses on the income statement. f. All purchases and sales of inventory are on credit. Exercise 16-12 (Static) Part 1 Required: (1) Prepare a statement of cash flows using the indirect method for the year ended June 30, 2021. Note: Amounts to be deducted should be indicated with a minus sign. Required information
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
