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 $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. Required: 1) Prepare a statement of cash flows using the indirect method for the year ended June 30, 2021. (Amounts to be deducted should be indicated with a minus sign.) IKIBAN INCORPORATED Income Statement \begin{tabular}{lr} \multicolumn{1}{c}{ For Year Ended June 30, 2021} & \\ Sales & $798,000 \\ Cost of goods sold & 435,000 \\ Gross profit & 363,000 \\ Operating expenses (excluding depreciation) & 91,000 \\ Depreciation expense & 82,600 \\ 0ther gains (losses) & 189,400 \\ Gain on sale of equipment & 4,400 \\ \cline { 2 - 2 } Income before taxes & 193,800 \\ Income taxes expense & 46,290 \\ Net income & $147,510 \\ \hline \hline \end{tabular} Answer is not complete. IKIBAN, INCORPORATED Statement of Cash Flows (Indirect Method) For Year Ended June 30, 2021 Cash flows from operating activities