Additional Information 0. 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 $58,600 cash d. Recelved cash for the sale of equipment that had cost $49,600, yielding a $2,100 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 (2) Compute the company's cash flow on total assets ratio for its fiscal year 2021. Required Information [The following information applies to the questions displayed below] The following financlal statements and addituonal information are reported. Additional Information 0. A $30,000 notes payable is retured at its $30,000 carrying (book) value in exchange for casn. b. The only changes affecting retained earnings are net income and cash dividends paid c. New equipment is acquired for $58,600 cash IKIBAN, INCORPORATED Statement of Cash Flows (Indirect Method) For Year Ended June 30, 2021 \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|l|}{Cashflowsfromoperatingactivites.Netincome} \\ \hline Net income & s & 101,510 & & \\ \hline \multicolumn{5}{|c|}{ Adjustments to reconcile net income to net cash provided by operating activities } \\ \hline \multicolumn{5}{|c|}{ Income statement items not affecting cash } \\ \hline Depreciation expense & & 59,600 & & \\ \hline Gain on sale of plant assets & & (2,100) & & \\ \hline \multicolumn{5}{|c|}{ Changes in current operating assets and liabilities } \\ \hline \multicolumn{5}{|l|}{ Increase in accounts receivable } \\ \hline \multicolumn{5}{|l|}{ Decrease in inventory } \\ \hline \multicolumn{5}{|l|}{ Decrease in prepaid expenses } \\ \hline \multicolumn{5}{|l|}{ Decrease in accounts payable } \\ \hline \multicolumn{5}{|l|}{ Decrease in wages payable } \\ \hline \multicolumn{5}{|l|}{ Decrease in income taxes payable } \\ \hline & & & $ & 159.010 \\ \hline \multicolumn{5}{|l|}{ Cash flows from investing activities. } \\ \hline \multicolumn{5}{|c|}{ Cash received from sale of equipment } \\ \hline \multicolumn{5}{|l|}{ Cash paid for equipment } \\ \hline & & & & 0 \\ \hline \multicolumn{5}{|l|}{ Cash fows from financing activities } \\ \hline \multicolumn{5}{|l|}{ Cash received from stock issuance } \\ \hline \multicolumn{5}{|l|}{ Cash paid to retire notes } \\ \hline \multicolumn{5}{|l|}{ Cash paid for dividends } \\ \hline & & & & Q \\ \hline Net increase (decrease) in cash & & & $ & 159.010 \\ \hline \multicolumn{5}{|l|}{ Cash balance at prior year-end } \\ \hline Cash balance at current year-end & & & 5 & 159,010 \\ \hline \end{tabular}