IKIBAN INCORPORATED Comparative Balance Sheets At June 30 28212820 Assets Cash Accounts receivable, net Inventory Prepaid expenses TotaL current assets Equipment Accumulated depreciation-Equipment Total assets \begin{tabular}{rr} $87,500 & $44,000 \\ 65,000 & 51,000 \\ 63,800 & 86,500 \\ 4,400 & 5,400 \\ \hline 220,700 & 186,900 \\ 124,000 & 115,000 \\ (27,000) & (9,000) \\ \hline$317,700 & $292,900 \\ \hline \hline \end{tabular} 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 IKIBAN INCORPORATED Income Statement Sales For Year Ended June 30, 2021 Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Other gains (losses) Gain on sale of equipment Income before taxes Income taxes expense Net income Additional Information Additional Information A. A 530,000 notes payoble is retired at its $30,000 carrying fookel value in exchange for cash. b. The only changes affecting retained earnings are net income and cash dividends paid. c. New equipment is acquited for $57,600 cash d. Peceived cesh for the sale of equipment that had cost $48,600, ylelding a $2,000 gain. e. Prepoid Expenses and Wages Poyable relate to Operating Expenses on the income statement f. All purchases and sales of inventory are on credit Required: 1) Prepare a statement of cash flows using the indirect mothod for the year ended June 30, 2021. (Amounts to be deducted should We indileated with a minus sian. Fequlred intormation