Required Information Exercise $12-12($Algo$)$ 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.

$\backslash$table$[[$IKIBAN$,$ INCORPORATED$],[$Statement of Cash Flows $($Indirect Method$)],[$For Year Ended June $30,2021],[$Cash flows from operating activities$],[$Net income,$$,101,510,,],[$Adjustments to reconcile net income to net cash provided by operating activities$],[$Income statement items not affecting cash$],[$Gain on sale of plant assets,$(2,100),,],[$Depreciation expense,$59,800,,],[$Changes in current operating assets and liabilities$],[$Decrease in prepaid expenses$],[$Increase in accounts receivable$],[$Decrease in inventory$],[$Decrease in wages payable$],[$Decrease in accounts payable$],[$Decrease in income taxes payable$],[,,$$$,159,010,],[$Cash flows from investing activities$],[$Cash paid for equipment$],[$Cash received from sale of equipment$],[,,,0],[$Cash flows from financing activities$],[$Cash paid to retire notes$],[$Cash received from stock issuance$],[$Cash paid for dividends$],[,,,0],[$Net increase $($decrease$)$ in cash,,$$,159,010],[$Cash balance at prior year$-$end,,,$],[$Cash balance at current year$-$end,,$$,159,010]]$

Exercise $12-12($Algo$)$ Indirect: Preparing statement of cash flows LO P$2,$ P$3,$ A$1$

$[$The following information applles to the questions displayed below.$]$

The following financial statements and additional information are reported.

Addltional 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 $$58,600$ cash.

d$.$ Recelved cash for the sale of equipment that had cost $$49,600,$ ylelding a $$2,100$ galn.

e$.$ Prepald Expenses and Wages Payable relate to Operating Expenses on the Income statement.

f$.$ All purchases and sales of Inventory are on credit.