The following financial statements and additional information are reported. IKIBAN INCORPORATED Comparative Balance Sheets At June $3020212020$ Assets Cash $ $87,500$ $ $44,000$ Accounts receivable, net $65,00051,000$ Inventory $63,80086,500$ Prepaid expenses $4,4005,400$ Total current assets $220,700186,900$ Equipment $124,000115,000$ Accumulated depreciationEquipment $(27,000)(9,000)$ Total assets $ $317,700$ $ $292,900$ Liabilities and Equity Accounts payable $ $25,000$ $ $30,000$ Wages payable $6,00015,000$ Income taxes payable $3,4003,800$ Total current liabilities $34,40048,800$ Notes payable $($long term$)30,00060,000$ Total liabilities $64,400108,800$ Equity Common stock, $$5$ par value $220,000160,000$ Retained earnings $33,30024,100$ Total liabilities and equity $ $317,700$ $ $292,900$ IKIBAN INCORPORATED Income Statement For Year Ended June $30,2021$ Sales $ $678,000$ Cost of goods sold $411,000$ Gross profit $267,000$ Operating expenses $($excluding depreciation$)67,000$ Depreciation expense $58,600141,400$ Other gains $($losses$)$ Gain on sale of equipment $2,000$ Income before taxes $143,400$ Income taxes expense $43,890$ Net income $ $99,510$ Additional Information A $$30,000$ notes payable is retired at its $$30,000$ carrying $($book$)$ value in exchange for cash. The only changes affecting retained earnings are net income and cash dividends paid. New equipment is acquired for $$57,600$ cash. Received cash for the sale of equipment that had cost $$48,600,$ yielding a $$2,000$ gain. Prepaid Expenses and Wages Payable relate to Operating Expenses on the income statement. 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 $30,2021.$ Note: Amounts to be deducted should be indicated with a minus sign.IKIBAN, INCORPORATED Statement of Cash Flows $($Indirect Method$)$ For Year Ended June $30,2021$ Cash flows from operating activities Net income $$99,510$ Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Depreciation expense $58,600$ Gain on sale of plant assets $(2,000)$ Changes in current operating assets and liabilities Decrease in inventory $22,700$ Decrease in prepaid expenses $1,000$ Decrease in accounts payable $(5,000)$ Decrease in wages payable $(9,000)$ Increase in accounts receivable $(14,000)$ Decrease in income taxes payable $(400)$ Net cash provided by operating activities $$151,410$ Cash flows from investing activities Cash received from sale of equipment Cash paid for equipment $(57,600)$ Net cash used in investing activities $(57,600)$ Cash flows from financing activities Cash received from stock issuance $60,000$ Cash paid to retire notes $(30,000)$ Cash paid for dividends $(90,310)$ Net cash used in financing activities $(60,310)$ Net increase $($decrease$)$ in cash $$33,500$ Cash balance at prior year$-$end $44,000$ Cash balance at current year$-$end $$77,500$ whats the cash recived from sale of equipment