14 10 Required information The following information applies to the questions displayed below) The following financial statements and additional information are reported. IKTBAN INC Comparative Balance sheets June 10, 2013 and 2018 2019 2011 Asta Cash | $ 99,700 Accounts receivable, net 14.500 64.000 Inventory 76,00 106,00 Prepaid expenses 5,700 .. Total current 266,700 235.000 Equipment 137,000 128.00 Accm. depreciation-Iquipment (33.500 (15,500) Total asset $370,200 5347,500 Liabilities and quity Accounts payable $ 38,00 $ 49,900 Wager payable 7.300 17.00 Income taxes payable 4,100 6,400 Total current liabilities 50,000 73,500 Hotos payable long term 03.0DD 73.000 Total liabilities 93,000 146,500 Equity Como stock, par vals 246.000 Retained earning Total liabilities and equity $370,200 $347,500 Rance 424,000 IRIBAN INC. Incon Statement For Year Ended June 30, 2018 Sales Coat of goods sold Groen proti Operating expense Depreciation expense 571,600 other expenses 30,000 Total operating expenses Other gainalose Gain on sale of equipment Income before taxea Income taxen expense et income 151,600 167,400 3.300 170,700 65.198 5125,510 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 $70,600 cash. d. Received cash for the sale of equipment that had cost $61.600, ylelding a $3,300 gain e. Prepaid Expenses and Wages Payable relate to Other Expenses on the income statement All purchases and sales of inventory ate on credit Required: 11) Prepare a statement of cash flows using the indirect method for the year ended June 30, 2019. (Amounts to be deducted should be indicated with a minus sign) Required: (1) Prepare a statement of cash flows using the indirect method for the year ended June 30, 2019. (Amounts to be deducted should be indicated with a minus sign) KIBAN, INC. Statement of Cash Flows Indirect Method For Your Ended June 30, 2019 Cash flow from operating activities Adustments to reconcile net income to net cash provided by operating activities Income statemente not affecting cash Changes in current operating assets and liabilities Cash flows from investing activities Cash flows from anong activities Net increase (decrease in cash Cash balance at prior year-end Cash balance at current you and