$\backslash$table$[[$IKIBAN INCORPORATED Comparative Balance Sheets$],[$At June $30,2021,2020],[$Assets$],[$Cash$,$$ $93,100,$$ $68,000],[$Accounts receivable, net,$101,000,75,000],[$Inventory$,87,800,122,500],[$Prepaid expenses,$6,800,10,200],[$Total current assets,$288,700,275,700],[$Equipment$,148,000,139,000],[$Accumulated depreciation$-$Equipment,$(39,000),(21,000)$

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 equlpment is acquired for $$81,600$ cash.

d$.$ Received cash for the sale of equipment that had cost $$72,600,$ yielding a $$4,400$ 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 $12-12($Algo$)$ Part $1$

Required:

$($i$)$ 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$[[$IKOBAN$,$ INCORPORATED$],[$Statement of Cash Flows $($indirect Methed$)],[$For Year Ended June $30,2021],[$Cauh flows from operating ectivities,,$],[,,],[$Asfustments to reconcle net income lo net cash provided by operating activities,,$],[$hoome statement flems not affecting cash,,$],[,,],[,,],[,,],[$Charges in cument operating assets and labillies,,$],[,,]]$