Required information [The following information apphies fo the guostions oisplayed below.) The foliowing financial statements and addikional information ore reported. Additional Information a. A $30,000 notes payable is retired at its $30,000 carrying (b00k) 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 $70,600 cash. d. Received cash for the sale of equipment that had cost $61,600, yielding a $3,300gain. e. Prepaid Expenses and Wages Payable relate to Operating Expenses on the income statement. f. All purchases and sales of inventory are on credit