Required information [The following information applies to the questions displayed below.] The following financial statements and additional information are reported. ! Required information \begin{tabular}{|c|c|c|c|c|} \hline Net cash provided by operating activities & & & $ & 174,410 \\ \hline \multicolumn{5}{|l|}{ Cash flows from investing activities } \\ \hline Cash received from sale of equipment & & & & \\ \hline Cash paid for equipment & 2 & (67,600) & & \\ \hline Net cash used in investing activities & & & & (67,600) \\ \hline \multicolumn{5}{|l|}{ Cash flows from financing activities } \\ \hline Cash received from stock issuance & 2 & (70,000) & & \\ \hline Cash paid to retire notes & 2 & (30,000) & & \\ \hline Cash paid for dividends & & & & \\ \hline Net cash used in financing activities & & & & (100,000) \\ \hline Net increase (decrease) in cash & & & $ & 6,810 \\ \hline Cash balance at prior year-end & & & & 54,000 \\ \hline Cash balance at current year-end & & & $ & 60,810 \\ \hline \end{tabular} Additional Information a. A $30,000 notes 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 $67,600 cash. d. Received cash for the sale of equipment that had cost $58,600, yielding a $3,000 gain. e. Prepaid Expenses and Wages Payable relate to Operating Expenses on the income statement. f. All purchases and sales of inventory are on credit. ! Required information \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ IKIBAN, INCORPORATED } \\ \hline \multicolumn{4}{|c|}{ Statement of Cash Flows (Indirect Method) } \\ \hline \multicolumn{4}{|c|}{ For Year Ended June 30, 2021} \\ \hline \multicolumn{4}{|l|}{ Cash flows from operating activities } \\ \hline Net income & & $119,510 & \\ \hline \multicolumn{4}{|c|}{ Adjustments to reconcile net income to net cash provided by operating activities } \\ \hline \multicolumn{4}{|l|}{ Income statement items not affecting cash } \\ \hline Depreciation expense & 2 & 68,600 & \\ \hline Gain on sale of plant assets & 2 & (3,000) & \\ \hline \multicolumn{4}{|c|}{ Changes in current operating assets and liabilities } \\ \hline Increase in accounts receivable & & (19,000) & \\ \hline Decrease in inventory & & 27,700 & \\ \hline Decrease in prepaid expenses & & 2,000 & \\ \hline Decrease in accounts payable & & (10,000) & \\ \hline Decrease in wages payable & & (10,000) & \\ \hline Decrease in income taxes payable & 2 & (1,400) & \\ \hline Net cash provided by operating activities & & & 174,410 \\ \hline \end{tabular}