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begin{tabular}{|c|c|} hline & hline Sales & 5 cos, 000 hline Cost of boods sold & 412,000 hline Gross profit & 271,000

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\begin{tabular}{|c|c|} \hline & \\ \hline Sales & 5 cos, 000 \\ \hline Cost of boods sold & 412,000 \\ \hline Gross profit & 271,000 \\ \hline Operating expenses (excluding depreciation) & 6il, 000 \\ \hline Depreciation expense. & 59,600 \\ \hline & 143,400 \\ \hline \end{tabular} Additional Information a. A $30,800 note payable is retired at its $30,800 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 $58,600 cash. d. Received cash for the sale of equipmenf that had cost $49,600, ylelding a $2,100gain. e. Prepaid Expenses and Wages Payable relate to Operating Expenses on the income statement. f. All purchases and sales of inventory are on credit. Using the direct method, prepare the statement of cash flows for the year ended June 30, 2021. Note: Amounts to be deducted should be indicoted with a minus sign

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