its the same question, utilize cash flow.

Exercise #5 2018 The following financial statements and additional information are reported: Prepare a statement of cash flows for the year ended June 30, 2019 using the indirect method. IKIBAN INC. IKIBAN INC. Income Statement Comparative Balance Sheets For the year ended June 30, 2019 June 30, 2019 and 2018 Sales $672,000 2019 Cost of goods sold 410,000 Assets Gross profit 262,000 Cash $100,800 Operating expenses Accounts receivable, net 69,700 Other expenses $66,600 Inventory 66,100 Depreciation expense 57,800 Prepaid expenses 4,300 Total operating expenses 124,400 Equipment 126,300 137,600 Accum. Depreciation - Equipment (28,600 Gain on sale of equipment 2.400 Total Assets $338,600 Income before taxes 140,000 Income taxes expense 56,000 Liabilities and equity Net income S84.000 Accounts payable $26,100 Wages payable 7,500 Income taxes payable 2,100 Notes payable (long-term) 46,000 Common stock, $5 par value 232,000 Retained earnings 24,900 Total Liabilities and Equity $338,600 $57,100 51,600 95,800 6,200 115,000 (10,700) $315,000 $32,300 17,000 3,800 71,000 183,000 7.900 $315,000 d. C. A $25,000 note payable is retired at its $25,000 carrying (book value) in exchange for cash. b. The only changes affecting retained earnings are net income and cash dividends paid. New equipment is acquired for $60,100 cash. d. Received cash for the sale of equipment that had cost $48,800, yielding a $2,400 gain. Prepaid expenses and Wages payable relate to Other expenses on the income statement f. All purchases and sales of merchandise inventory are on credit. Exercise #5 IKIBAN Inc. Company Statement of Cash Flows - Indirect Method For the year ended June 30, 2019 Cash flows from operating activities Adjustments to reconcile net income to operating cash flow: Cash flows from investing activities Cash flows from financing activities Net increase in cash Cash balance at June 30, 2018 Cash balance at June 30, 2019