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Exercise 12-12 (Algo) Indirect: Preparing statement of cash flows LO P2, P3, A1 [The following information applies to the questions displayed below] The following financial statements and additional information ore reported. Additional Informetion a. A $30,000 note payable is retired ot its $30.000 cartying (book) value in exchange for cosh. b. The only chonges affecting retained eamings are net income and cash clividends paid. c. New equipment is ocquired for $80.600 cash d. Recelved cash for the sole of equlpment thot had cost $71,600 ylelding o $4,300goln. e. Prepaid Expenses and Wages Payable celate to Operating Expenses on the Income statement: Additional Information a. A $30,000 note payable is retired at is $30,000 carrying (book) value in exchange for cash. b. The only changes affecting retained eamings are net income and cash dividends paid. c. New equipment is acquired for $80,600 cash. d. Received cosh for the sole of equipment that had cost $71,600, ylelding a $4,300 gain. e. Prepaid Expenses and Wages Payable relate to Operating Expenses on the income statement. f. All purchoses and soles of inventory are on credit. Exercise 12-12 (Algo) Part 2 (2) Compute the company's cosh fow on totol ossets cotio for its fiscol year 2020