MO7 Ch 12 Homework IKIAN NO. Income Statement For Year Ended June 10, 2017 Cost of goods sold $62.600 het expenses Tosal operating expenses 133.600 1 ,400 Chas gain lessen Gain on sale of paint Income taxes expense Additional Information a. A $30.000 note payable is rotired at its $30,000 carrying book value in exchange for cash b. The only changes affecting retained camnings are not income and cash dividends pald. c. Now equipment is acquired for $61,600 cash d. Received cash for the sale of equipment that had cost $52600 yielding a $2.400 gain e Prepaid Expenses and Wages Payable relate to Other Eponses on the income statement . 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 deducted should be indicated with a minus sign) IKIRAN, INC Statement of Cash Flows (indirect Method) For Year Ended June 10, 2017 flows from operating activities Adjustments to reconcilet no one can provided by operating activibes MO7 Ch 12 Homework IKIAN NO. Income Statement For Year Ended June 10, 2017 Cost of goods sold $62.600 het expenses Tosal operating expenses 133.600 1 ,400 Chas gain lessen Gain on sale of paint Income taxes expense Additional Information a. A $30.000 note payable is rotired at its $30,000 carrying book value in exchange for cash b. The only changes affecting retained camnings are not income and cash dividends pald. c. Now equipment is acquired for $61,600 cash d. Received cash for the sale of equipment that had cost $52600 yielding a $2.400 gain e Prepaid Expenses and Wages Payable relate to Other Eponses on the income statement . 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 deducted should be indicated with a minus sign) IKIRAN, INC Statement of Cash Flows (indirect Method) For Year Ended June 10, 2017 flows from operating activities Adjustments to reconcilet no one can provided by operating activibes