Theres indirect table and direct table

Required information The following information applies to the questions displayed below] The following financial statements and additional information are reported. IKIBAN INC. Comparative Balance Sheets June 30, 2017 and 2016 2017 2016 Assets Cash $104,500 49,000 56,000 94,000 6,400 70205,400 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 72,500 68,800 4,900 250,700 129,000120,000 11,500) (29,500 $350,200 $313,900 $30,000 37,500 16,000 4,800 58, 300 35,000 65,000 75,400123,300 6,500 3,900 40,400 230,000 165,000 44 80025,600 $350,200 $313,900 35,00065,000 75,400123,300 Notes payable (long term) Total liabilities Equity Common stook, $5 par value Retained earnings Total liabilities and equity 230,000 165,000 25,600 $350,200 $313,900 IKIBAN INC. Income Statement For Year Ended June 30, 2017 Sales Cost of goods sold Gross profit operating expenses $703,000 416,000 287,000 Depreciation expense $63,600 72,000 Other expenses Total operating expenses 151,400 other gains (losses Gain on sale of equipment Income before taxes Income taxes expense Net income 153,900 44,390 $109,510 Additional Information a. A $30,000 note payable is retired at its $30,000 carrying (book) value in exchange f b. The only changes affecting retained earnings are net income and cash dividends pai c. New equipment is acquired for $62,600 cash. d. Received cash for the sale of equipment that had cost $53.600, vielding a $2,500 ga 2 Qui Help Save & 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 $62,600 cash. d. Received cash for the sale of equipment that had cost $53,600, yielding a $2,500 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 for the year ended June 30, 2017, using the indirect method. (Amount o deducted should be indicated with a minus sign.) IKIBAN, INC. Statement of Cash Flows (indirect Method) For Year Ended June 30, 2017 Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash 8. Help Required Information Income statement items not affecting cash Changes in current operating assets and liabilities Cash flows from investing activities Cash flows from financing activities 45 of 5 4 5 of 5 Next 8 0 Requlred Information 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 8 0 Using the direct method, prepare the statement of cash flows for the year deducted should be indicated with a minus sign.) IKIBAN, INC. Statement of Cash Flows (Direct Method) For Year Ended June 30, 2017 Cash flows from operating activities 0 Cash flows from investing activities Cash flows from financing activities KIl Prev 5 Saved Required information Cash flows from investing activities 0 Cash flows from financing activities 0 Net increase (decrease) in cash Cash balance at prior year-end Cash balance at current year-end