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Required information [The following information applies to the questions displayed below.] The following financial statements and additional information are reported. Additional Information a. A $30,000

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Required information [The following information applies to the questions displayed below.] The following financial statements and additional information are reported. 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 eamings are net income and cash dividends pald. c. New equipment is acquired for $65,600 cash. d. Recelved cash for the sale of equipment that had cost $56,600, yielding a $2,800 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 should be indicated with a minus sign.)

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