Addltlonal Information o. A $42,000 note payable is retired at its $42,000 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 $87,000 cash. d. Received cash for the sale of equipment that had cost $72,000, yielding a $7,300 gain. e. Prepaid Expenses and Wages Payable relate to Other Expenses on the income statement. f. All purchases and sales of inventory are on credit. Using the income statement, the comparative balance sheet, and the additional information given above, reconstruct the entries for the summarized activity of the current fiscal year. Upon completion, the trial balance tab should agree with the June 30 , 2019 balances. Orepare the Statement of Cash flows for the year ended June 30, 2019 using the Direct Method. Hint Use the Cash T account on the General Ledger tab to identify the sources and uses of cash. List cash outflows as negative ralues. Prepare the operating activities section of the statement of cash flows using the indirect method. Enter reductions to net cash provided by operating activities as negative values