required intormauon Exercise 12-12 (Static) 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 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 $57,600 cash. d. Received cash for the sale of equipment that had cost $48,600, yielding a $2,000 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. Exercise 12-12 (Static) Part 1 IKIBAN, INCORPORATED Statement of Cash Flows (Indirect Mothod) For Year Ended June 30, 2021 Cash flows from operating activities \begin{tabular}{|l|l|l|} \hline Net income & $ & 99,510 \\ \hline \end{tabular} Adjustments to reconcile net income to net cash provided by operating activities Income statement ilems not affecting cash (1) Required information