The following financial statements and additional intormation are reported.

Additional Information

a$.$ A $$30,000$ notes paysble is retired at its $$30,000$ carrying $($book$)$ value in exchange for cash.

b$.$ The only changes affecting retained earnings are net income and cosh dividends paid.

c$.$ New equipment is ocquired for $$61,600$ cash.

d$.$ Received cash for the sale of equipment that had cost $$52,600,$ yielding a $$2,400$ gain.

e$.$ Prepaid Expenses and Wages Payoble relate to Operating Expenses on the income statement.

f$.$ All purchuses and sales of inventory ore on credit.

Exerclse $16-12($Algo$)$ Part $1$

Required:

$(1)$ Prepare a statement of cash flows using the inclirect method for the year ended June $30,2021.$

Note: Amounts to be deducted should be Indicated with a minus sign.