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[The following information applies to the questions displayed below.] The following financial statements and additional information are reported. Addltlonel Informetlon a. A $30,000 notes payable
[The following information applies to the questions displayed below.] The following financial statements and additional information are reported. Addltlonel Informetlon a. A $30,000 notes 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 $71,600 cash. d. Received cash for the sale of equipment that had cost $62,600, yielding a $3,400gain. e. Prepaid Expenses and Wages Payable relate to Operating Expenses on the income statement. f. All purchases and sales of inventory are on credit. qulred: Prepare a statement of cash flows using the indirect method for the year ended June 30 . 2021. (Amounts to be deducted should Indlcated with a minus slgn.)
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