Additional Information Sales Cost of goods sold Gross profit Operating expenses (exclue Depreciation expense Other...
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Additional Information Sales Cost of goods sold Gross profit Operating expenses (exclue Depreciation expense Other gains (losses) Gain on sale of equip Income before taxes Income taxes expense Net income IKIBAN INCORPORATED Income Statement For Year Ended June 30,2021 Additional Information Additional Information 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 $65,600 cash. d. Recelved cash for the sale of equipment that had cost $56,600, yleiding a $2,800 gain. e. Prepaid Expenses and Wages Payable relate to Operating Expenses on the income statement. f. All purchases and sales of inventory are on credit. Exercise 1212 (Algo) Part 1 Required: (1) Prepare a statement of cash flows using the indirect method for the year ended June 30, 2021. (Amounts to be deducted should be indicated with a minus sign.) Income statement items not affecting cash 1) Required information Changes in current operating assets and liabilities \begin{tabular}{|l|l|l|l|l|l|} \hline & & & \\ \hline & & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular}
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