Homework i. CI Saved 9 IKIBAN INC Com ets 2016 201 t: $ 52,000 Cb $102, 700 hooounts receivable, net 77,000 , 000 points Prepaid ezpenses Total current assets 5,200 , 000 256, 700 216, 500 kceun depraci stion-Equi pnant (13.000) (31,000) eBook $326, 500 Total assets $357, 700 Li abilities and Equity S 33,000 S 42.000 Vares navabl Inoon taxe payae int 6,80m . 600 4,200 5, 400 Notes payable (long tern) 38,000 , 000 132,000 Ask Tetal liabilities 82,000 Comon stock, $5 par value Retained earnings Total liabilities and equity 236,000 168, 000 39, 700 $357, 700 26, 500 $326, 500 IETBAN INC For Tear Ended Tune 30, 2017 $ 718, 000 Sales goods sold 990 000 Gross profit Op er ating exp enses $66, 600 ense 0ther expenses Total operating expenses 5,000 41, 600 157, 400 Other gains (losses) Gain o sale of equipnent 2. 800 Inoone before taxes $115, 510 Nt incone Additional Information 8. A $30,000 note payable is retired b. The only changes affecting retained earnings are net income and cash dividends paid. its $30,000 carrying (book) value in exchange for cash. d. Received cash for the sale of equipment that had cost $56,600, yielding a $2,800 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. Required (1) Prepare a statement of cash flows for the year ended June 30, 2017, using the indirect method. (Amounts to be indicated with a minus sign.) e deducted should 5 points IKIBAN, INC Statement of Cash Flows (Indirect Method) For Year Ended June 30, 2017 Cash flows from operating activities eBook Adiustments to reconcle net income to net cash provided by operating activities Hint Income statement items n atfecting cash Ask Changes in current operating assets and liabilities Cash flows from investing activities Cash flows from financing activities Net increase (decrease) in cash Cash balance at prior vear-end Cash balance at current vear-end