The following financial statements and additional information are reported. Addltional 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 $72,600 cash. d. Recelved cash for the sale of equipment that had cost $63,600, ylelding a $3,500 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