IKIBAN INCORPORATED At June 30 Comparative Balance Sheets Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accumulated depreciation-Equipment Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total liabilities Equity Common stock, \$5 par value Retained earnings Total liabilities and equity \begin{tabular}{rr} $83,900 & $50,000 \\ 74,000 & 57,000 \\ 69,800 & 95,500 \\ 5,000 & 6,600 \\ \hline 232,700 & 209,100 \\ 130,000 & 121,000 \\ (30,000) & (12,000) \\ \hline$332,700 & $318,100 \\ \hline \hline & \\ $31,000 & $39,000 \\ 6,600 & 16,200 \\ 4,000 & 5,000 \\ \hline 41,600 & 60,200 \\ 31,200 & 66,000 \\ \hline 72,800 & 126,200 \end{tabular} \begin{tabular}{rr} 232,000 & 166,000 \\ 27,900 & 25,900 \\ \hline$332,700 & $318,100 \\ \hline \end{tabular} Additional Information a. A $34,800 note payable is retired at its $34,800 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 $63,600 cash. d. Received cash for the sale of equipment that had cost $54,600, yielding a $2,600 gain. 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 . (Amou IKIBAN, INCORPORATED Statement of Cash Flows (Direct Method) For Year Ended June 30, 2021 Cash flows from operating activities