prepare statement of cash flow using the indirect method for the year ending June 30, 2021.

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 $80,600 cash.

d. Received cash for the sale of equipment that had cost $71,600, yielding a $4,300 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.

Required Information The following information applies to the questions disployed beiow] The following financial statements and additional infomation 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 $80,600cash. d. Received cash for the sale of equipment that had cost $71,600, yielding a $4,300 gain. 1e. Prepaid Expenses and Wages Payable relate to Operating Expenses on the income statement. t. All purchases and sales of inventory are on credit. Requlred: (1) Prepare a statement of cash fiows using the indirect method for the year ended June 30, 2021. Note: Amounts to be deducted should be Indlcated with a minus sign