Exercise 12-11 Indirect: Preparing statement of cash flows A1 P2 P3 The following financial statements and additional information are reported. (1) Prepare a statement of cash flows using the indirect method for the year ended June 30, 2019. (2) Compute the company's cash flow on total assets ratio for fiscal year 2019. IKIBAN INC. Income Statement For Year Ended June 30, 2019 Sales Cost of goods sold Gross profit $678,000 411,000 267,000 Operating expenses Depreciation expense $58,600 Other expenses 67,000 Total operating expenses 125,600 141,400 Other gains (losses) Gain on sale of equipment 2,000 Income before taxes 143,400 Income taxes expense 43.890