The following financial statements and additional information are reported. IKIBAN INC. Comparative Balance Sheets June 30, 2019 and 2018 2019 2018 $102,100 78,500 72,800 5,300 258,700 133,000 (31,500) $360,200 $ 53,000 60,000 100,000 7,200 220, 280 124,000 (13,500 $330,700 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accum. depreciation-Equipment Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total liabilities Equity Common stock, $5 par value Retained earnings Total liabilities and equity $ 34,000 6,900 4,300 45,200 39,000 84,200 $ 43,500 16,800 5,600 65,900 69,000 134,900 238,000 38,000 $360,200 169,000 26,800 $330, 700 $723,000 420,000 303,000 IKIBAN INC. Income Statement For Year Ended June 30, 2019 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense $67,600 Other expenses 76,000 Total operating expenses Other gains (losses) Gain on sale of equipment Income before taxes Income taxes expense Net income 143,600 159,400 2,900 162,380 44,790 $117,510 Additional Information a. A $30,000 note 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 $66.600 cash. d. Received cash for the sale of equipment that had cost $57.600, yielding a $2,900 gain e. Prepaid Expenses and Wages Payable relate to Other Expenses on the income statement f. 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, 2019. (Amounts to