Exercise 16-198 (Algo) Direct: Preparing statement of cash flows LO P5 The follawing financlal statements ond additional information are reported. a. A \\( \\$ 34,800 \\) note peyable is retied at is \\( \\$ 34,800 \\) carrying (book) value in exchanpe for cash. b. The only changes affecting retained cornings ore net income and cash dividends paid. c. New equipment is acquired for \\( \\$ 63.600 \\) cash. d. Recelved cash for the sale of equipment that had cost \\( \\$ 54,600 \\), yloloing a \\( \\$ 2,600 \\) gain. e. Prepaid Exponses and Woges Payable rotase to Operating Exponser on the income statement. t. Al purchases and sales of inventory are on credi Using the direct momod, prepare the statement of cash flows for the year ended June 30,2021 . Note: Amounts to be deducted should be indicated with a minus sign. Note: Amounts to be deducted should be indicated with a minus sign