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financial ctatements and additional information are reported. IKIBAN, INCORPORATED Statement of Cash Flows (Direct Method) For Year Ended June 30, 2021 begin{tabular}{|l|r|r|} hline Cash flows
financial ctatements and additional information are reported. IKIBAN, INCORPORATED Statement of Cash Flows (Direct Method) For Year Ended June 30, 2021 \begin{tabular}{|l|r|r|} \hline Cash flows from operating activities & $754,000 & \\ \hline Cash received from customers & (413,300) & \\ \hline Cash paid for operating expenses & (95,000) & \\ \hline Cash paid for income taxes & (48,290) & \\ \hline & & \\ \hline Cash flows from investing activities & & \\ \hline Cash paid for equipment & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Cash flows from financing activities & & \\ \hline & & \\ \hline \end{tabular} Additional Information a. A $46,000 note payable is retired at its $46,000 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 $77,600cash. d. Received cash for the sale of equipment that had cost $68,600, ylelding a $4,000 gain. e. Prepaid Expenses and Wages Payable relate to Operating Expenses on the income statemen f. All purchases and sales of inventory are on credit
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