The following financial statements and additional information are reported. \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{\begin{tabular}{l} IKIBAN INCORPORATED \\ Comparative Balance Sheets \end{tabular}} \\ \hline At June 30 & 2021 & 2020 \\ \hline \multicolumn{3}{|l|}{ Assets } \\ \hline Cash & $85,700 & $47,000 \\ \hline Accounts receivable, net & 69,500 & 54,000 \\ \hline Inventory & 66,800 & 91,000 \\ \hline Prepaid expenses & 4,700 & 6,000 \\ \hline Total current assets & 226,700 & 198,000 \\ \hline Equipment & 127,000 & 118,000 \\ \hline Accumulated depreciation-Equipment & (28,500) & (10,500) \\ \hline Total assets & $325,200 & $305,500 \\ \hline \multicolumn{3}{|l|}{ Liabilities and Equity } \\ \hline Accounts payable & $28,000 & $34,500 \\ \hline Wages payable & 6,300 & 15,600 \\ \hline Income taxes payable & 3,700 & 4,400 \\ \hline Total current liabilities & 38,000 & 54,500 \\ \hline Notes payable (long term) & 30,600 & 63,000 \\ \hline Total liabilities & 68,600 & 117,500 \\ \hline \multicolumn{3}{|l|}{ Equity } \\ \hline Common stock, $5 par value & 226,000 & 163,000 \\ \hline Retained earnings & 30,600 & 25,000 \\ \hline Total liabilities and equity & $325,200 & $305,500 \\ \hline \end{tabular} Additional Information a. A$32,400 note payable is retired at its $32,400 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 $60,600 cash. d. Received cash for the sale of equipment that had cost $51,600, yielding a $2,300 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. Using the direct method, prepare the statement of cash flows for the year ended June 30, 2021. Note: Amounts to be deducted should be indicated with a minus sign