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Accounting
Its the same question it just has two parts. Thank you I will thumbs up if correct.
The following finencial statements and additional information are reported. 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 eamings 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 Operating 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 30,2021 Note: Amounts to be deducted should be indicated with a minus sign. (2) Compute the company's cash flow on total assets ratio for its fiscal year 2021
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