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Required information [The following information applies to the questions displayed below.] The following financial statements and additional information are reported. a. A $30.000 notes payable

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Required information [The following information applies to the questions displayed below.] The following financial statements and additional information are reported. 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 $80,600 cash. d. Recelved cosh for the sale of equ pment that had cost $7,600, ylelding a $4,300 gain. e. Prepold Expenses and Wiges Poybble reiate to Operating Expenses on the income staten. 1. All purchases and sales of inventory are on credit. 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 $80,600 cash. d. Received cash for the sale of equipment that had cost $71,600, yielding a $4,300 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: (1) Prepare a statement of cash flows using the indirect method for the year ended June 30, 2021. (Amounts to be deducted shoul be indicated with a minus sign.)

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