Required information Exercise 12-11 Indirect: Preparing statement of cash flows LO P1, P2, P3, A1 [The following information applies to the questions displayed below.] The following financial statements and additional information are reported. Additional Information a. A $30,000 note 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 $57,600 cash. d. Received cash for the sale of equipment that had cost $48,600, yielding a $2,000gain. e. Prepaid Expenses and Wages Payable relate to Other Expenses on the income statement. f. All purchases and sales of inventory are on credit. 1) Prepare a statement of cash flows for the year ended June 30,2017 , using the indir se indicated with a minus sign.) Required information (2) Compute the company's cash flow on total assets ratio for its fiscal year 2017. e. Prepaid Expenses and Wages Payable relate to Other Expenses on the incc f. All purchases and sales of inventory are on credit. Exercise 12-12B Direct: Preparing statement of cash flows LO P1, Using the direct method, prepare the statement of cash flows for the year ended June indicated with a minus sign.) Required information