The following financial statements and additional information are reported. IKIBAN INCORPORATED Income Statement Additional Information...
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The following financial statements and additional information are reported. IKIBAN INCORPORATED Income Statement Additional Information a A $ notes payable is retired at its $ 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 $ cash. d Recelved cash for the sale of equipment that had cost $ ylelding a $ 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. The requirements are Prepare a complete statement of cash flows using the indirect method for the current year. 
The following financial statements and additional information are reported.
IKIBAN INCORPORATED
Income Statement
Additional Information
a A $ notes payable is retired at its $ 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 $ cash.
d Recelved cash for the sale of equipment that had cost $ ylelding a $ 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.
The requirements are Prepare a complete statement of cash flows using the indirect method for the current year.
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