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Required information Exercise 16-12 (Algo) Indirect: Preparing statement of cash flows LO P2, P3, A1 [The following information applies to the questions displayed below] The following financial statements and additional information are reborted. Additional Information a. A St0000 notes payable is reuked at is $30,000 carying (book) value in exchange for cash. b. The only changes affecting retained eamings are net incomu and cash dividends paid. c. New equptnent is ecquired for $78,600 cast. e. Fiepdit Experses and Woges Payoble relate to Operating Expenses on the income starement. f. Al purchasts and sales of inventory are on credit Exercise 16-12 (Algo) Part 1 Recrired: 1) Prepiarea statemenc of cash flows using the indrect methoof for the year ended June 30,2021 Note: Amounts to be deducted should be indicated with o minus sign. Required information Exercise 16-12 (Algo) Indirect: Preparing statement of cash flows LO P2, P3, A1 [The following information applies to the questions displayed below] The following financial statements and additional information are reborted. Additional Information a. A St0000 notes payable is reuked at is $30,000 carying (book) value in exchange for cash. b. The only changes affecting retained eamings are net incomu and cash dividends paid. c. New equptnent is ecquired for $78,600 cast. e. Fiepdit Experses and Woges Payoble relate to Operating Expenses on the income starement. f. Al purchasts and sales of inventory are on credit Exercise 16-12 (Algo) Part 1 Recrired: 1) Prepiarea statemenc of cash flows using the indrect methoof for the year ended June 30,2021 Note: Amounts to be deducted should be indicated with o minus sign