Additional Information a. A $40,400 note payable is retired at its $40,400 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 $70,600cash. d. Received cash for the sale of equipment that had cost $61,600, ylelding a $3,300 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. Using the direct method, prepare the statement of cash flows for the year ended June 30, 2021. Note: Amounts to be deducted should be indicated with a minus sign. Retum Answer is not complete. \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{ IKIBAN, INCORPORATEO } \\ \hline \multicolumn{3}{|c|}{ Statament of Cash Flows (Diroct Mathod) } \\ \hline \multicolumn{3}{|c|}{ For Year Ended June 30, 2021} \\ \hline \multicolumn{3}{|l|}{ Cash flows from operating activities } \\ \hline Cash recaived from customers & $722,5000 & \\ \hline Cash paid for imventory & (406,300) & \\ \hline Cash paid for operating expenses. & (88,000) & \\ \hline Cash paid for income taxes & (46,890) & \\ \hline Net cash provided by operating activities & & 5181,310 \\ \hline \multicolumn{3}{|l|}{ Cash flows from investing activities } \\ \hline \multirow[t]{2}{*}{ Cash paid for equipment } & 11,300 & + \\ \hline & (70,600) & \\ \hline Not cash provided by investing activities & & (50.300) \\ \hline \multicolumn{3}{|l|}{ Cash fows from financing activities } \\ \hline Cash received from stock issuance & (40,400) & \\ \hline Cash paid for dividends & 73,000 & \\ \hline & (131,910) & \\ \hline Net cash used in financing activities & & (90,310) \\ \hline Net increase (decrease) in cash & & 22,700 \\ \hline \end{tabular}