Exercise 12-12 (Algo) Indirect: Preparing statement of cash flov [The following information applies to the questions displayed below.] The following financial statements and additional information are reportec IKIBAN, INCORPORATED Statement of Cash Flows (Indirect Method) Cash flows from operating activities For Year Ended June 30, 2019 Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Cash flows from investing activities Cash flows from financing activities (2) Compute the company's cash flow on total assets ratio for its fiscal year 2020 , Required informetion Exercise 12-12 (Algo) Indirect: Preparing statement of cash flows LO P2, P3 [The following information applies to the questions displayed below] The following financial statements and additional information are reported. a. A $30,000 note 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 $71,600 cash. d. Received cash for the sale of equipment that had cost $62,600, yielding a $3,400 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. Required: (1) Prepare a statement of cash flows using the indirect method for the year ended June 30,2020 Note: Amounts to be deducted should be indicated with a minus sign. IKIBAN, INCORPORATED Statement of Cash Flows (Indirect Method) For Year Ended June 30, 2019 Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities \begin{tabular}{|l} \hline \\ \hline \\ \hline Cash flows from investing activities \\ \hline \end{tabular} \begin{tabular}{|l} Cash flows from investing activities \\ \hline \\ \hline Cash flows from financing activities \\ \hline \end{tabular} 2) Compute the company's cash flow on total assets ratio for its fiscal year 2020