IKIBAN INCORPORATED IKIBAN INCORPORATED Income Statement \begin{tabular}{lr} \multicolumn{1}{r}{ For Year Ended June 30,2021} & $763,000 \\ Sales & 428,000 \\ Cost of goods sold & 335,000 \\ Gross profit & 84,000 \\ Operating expenses (excluding depreciation) & 75,600 \\ Depreciation expense & 175,400 \\ Other gains (losses) & 3,700 \\ Gain on sale of equipment & 179,100 \\ Income before taxes & 45,590 \\ Income taxes expense & $133,510 \\ Net income & \end{tabular} Additional Information a. A $30,000 notes payable is retired at its $30,000 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 $74,600 cash. d. Recelved cash for the sale of equipment that had cost $65,600, yielding a $3,700 gain. e. Prepaid Expenses and Wages Payablo 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 fiows using the indirect method for the year ended June 30, 2021. (Amounts to be deducted should be indicated with a minus slgn.) IKIBAN, INCORPORATED Statement of Cash Flows (Indirect Method) For Year Ended June 30, 2021 Cash fows from operating activities \begin{tabular}{|l|l|l|} \hline Net increase (decrease) in cash & \\ \hline Cash balance at prior year-end & & \\ \hline Cash balance at current year-end & \\ \hline \end{tabular}