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plz help Required information Exercise 16-11 Indirect: Preparing statement of cash flows LO P2, P3, A1 [The following information applies to the questions displayed below.]
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Required information Exercise 16-11 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 are reported. Additional Information a. A $30,000 note 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 $61,600 cash. d. Received cash for the sale of equipment that had cost $52,600, yielding a $2,400 gain. e. Prepaid Expenses and Wages Payable relate to Other Expenses on the income statement. f. All purchases and sales of inventory are on credit. Exercise 16-11 Part 1 Required: (1) Prepare a statement of cash flows using the indirect method for the year ended June 30, 2019. (Amounts to be deducted should be indicated with a minus sign.) (1) Required information IKIBAN, INC. Statement of Cash Flows (indirect Mothod) For Year Ended June 30, 2019 \begin{tabular}{|l|ll|} \hline Cash flows from operating activities & \\ \hline Net income & $ & 107,510 \\ \hline \end{tabular} Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash rework i Soved (1) Required information Step by Step Solution
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