The following financial statements and additional information are reported.

IKIBAN INC. Comparative Balance Sheets June 30, 2013 and 2012
	2013				2012
Assets
Cash	$	111,300			$	67,600
Accounts receivable, net		69,500				51,400
Inventory		65,900				96,700
Prepaid expenses		5,800				4,400
Equipment		123,500				112,000
Accum. depreciationEquipment		(28,500	)			(10,300	)
Total assets	$	347,500			$	321,800
Liabilities and Equity
Accounts payable	$	26,400			$	32,900
Wages payable		7,800				16,400
Income taxes payable		2,300				3,600
Notes payable (long term)		47,000				72,000
Common stock, $5 par value		239,000				189,000
Retained earnings		25,000				7,900
Total liabilities and equity	$	347,500			$	321,800

IKIBAN INC. Income Statement For Year Ended June 30, 2013
Sales				$	669,000
Cost of goods sold					406,000
Gross profit					263,000
Operating expenses
Depreciation expense	$	58,500
Other expenses		66,100
Total operating expenses					124,600
					138,400
Other gains (losses)
Gain on sale of equipment					3,000
Income before taxes					141,400
Income taxes expense					56,560
Net income				$	84,840

Additional Information

a.	A $25,000 note payable is retired at its $25,000 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 $60,300 cash.
d.	Received cash for the sale of equipment that had cost $48,800, yielding a $3,000 gain.
e.	Prepaid Expenses and Wages Payable relate to Other Expenses on the income statement.
f.	All purchases and sales of merchandise inventory are on credit.

Required: (1) Prepare a statement of cash flows for the year ended June 30, 2013, using the indirect method (Amounts to be deducted should be indicated with a minus sign.) IKIBAN, INC Statement of Cash Flows (Indirect Method) For Year Ended June 30, 2013 Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities Cash flows from investing activities Cash flows from financing activities Net increase (decrease) in cash Cash balance at prior year-end Cash balance at current year-end