4. The following financial statements and additional information are reported.

IKIBAN INCORPORATED
Comparative Balance Sheets
At June 30	2021	2020
Assets
Cash	$ 100,300	$ 56,000
Accounts receivable, net	83,000	63,000
Inventory	75,800	104,500
Prepaid expenses	5,600	7,800
Total current assets	264,700	231,300
Equipment	136,000	127,000
Accumulated depreciationEquipment	(33,000)	(15,000)
Total assets	$ 367,700	$ 343,300
Liabilities and Equity
Accounts payable	$ 37,000	$ 48,000
Wages payable	7,200	17,400
Income taxes payable	4,600	6,200
Total current liabilities	48,800	71,600
Notes payable (long term)	42,000	72,000
Total liabilities	90,800	143,600
Equity
Common stock, $5 par value	244,000	172,000
Retained earnings	32,900	27,700
Total liabilities and equity	$ 367,700	$ 343,300

IKIBAN INCORPORATED
Income Statement
For Year Ended June 30, 2021
Sales	$ 738,000
Cost of goods sold	423,000
Gross profit	315,000
Operating expenses (excluding depreciation)	79,000
Depreciation expense	70,600
	165,400
Other gains (losses)
Gain on sale of equipment	3,200
Income before taxes	168,600
Income taxes expense	45,090
Net income	$ 123,510

Additional Information

1. A $30,000 notes payable is retired at its $30,000 carrying (book) value in exchange for cash.
2. The only changes affecting retained earnings are net income and cash dividends paid.
3. New equipment is acquired for $69,600 cash.
4. Received cash for the sale of equipment that had cost $60,600, yielding a $3,200 gain.
5. Prepaid Expenses and Wages Payable relate to Operating Expenses on the income statement.
6. 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. (Amounts to be deducted should be indicated with a minus sign.) (2) Compute the companys cash flow on total assets ratio for its fiscal year 2021.