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Required information Exerclse $12-12($Algo$)$ Part $1$

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. Required information

Exerclse $12-12($Algo$)$ Indirect: Preparing statement of cash flows LO P$2,$ P$3,$ A$1$

$[$The following information applles to the questions ollsplayed below.$]$

The following financial 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 earnings are net Income and cash dividends paid.

c$.$ New equipment is acquired for $$80,600$ cash.

d$.$ Recelved cash for the sale of equipment that had cost $$71,600,$ ylelding a $$4,300$ galn.

e$.$ Prepald Expenses and Wages Payable relate to Operating Expenses on the income statement.

f$.$ All purchases and sales of Inventory are on credit. Exerclse $12-12($Algo$)$ Part $2$

$(2)$ Compute the company's cash flow on total assets ratio for Its fiscal year $2021.$

Exerclse $12-12($Algo$)$ Indirect: Preparing statement of cash flows LO P$2,$ P$3,$ A$1$

$[$The following information applies to the questions ollsplayed below.$]$

The following financlal 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 earnings are net Income and cash dividends pald.

c$.$ New equipment is acquired for $$80,600$ cash.

d$.$ Recelved cash for the sale of equipment that had cost $$71,600.$ ylelding a $$4,300$ gain.

e$.$ Prepald Expenses and Wages Payable relate to Operating Expenses on the income statement.

f$.$ All purchases and sales of inventory are on credit.

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