IKIBAN INC. Comparative Balance Sheets June 30, 2017 and 2016
	2017				2016
Assets
Cash	$	96,700			$	62,000
Accounts receivable, net		92,000				69,000
Inventory		81,800				113,500
Prepaid expenses		6,200				9,000
Total current assets		276,700				253,500
Equipment		142,000				133,000
Accum. depreciationEquipment		(36,000	)			(18,000	)
Total assets	$	382,700			$	368,500
Liabilities and Equity
Accounts payable	$	43,000			$	57,000
Wages payable		7,800				18,600
Income taxes payable		5,200				7,400
Total current liabilities		56,000				83,000
Notes payable (long term)		48,000				78,000
Total liabilities		104,000				161,000
Equity
Common stock, $5 par value		256,000				178,000
Retained earnings		22,700				29,500
Total liabilities and equity	$	382,700			$	368,500

IKIBAN INC. Income Statement For Year Ended June 30, 2017
Sales				$	768,000
Cost of goods sold					429,000
Gross profit					339,000
Operating expenses
Depreciation expense	$	76,600
Other expenses		85,000
Total operating expenses					161,600
					177,400
Other gains (losses)
Gain on sale of equipment					3,800
Income before taxes					181,200
Income taxes expense					45,690
Net income				$	135,510

Additional Information

A $30,000 note payable is retired at its $30,000 carrying (book) value in exchange for cash.

The only changes affecting retained earnings are net income and cash dividends paid.

New equipment is acquired for $75,600 cash.

Received cash for the sale of equipment that had cost $66,600, yielding a $3,800 gain.

Prepaid Expenses and Wages Payable relate to Other Expenses on the income statement.

All purchases and sales of inventory are on credit.

Required:

(1) Prepare a statement of cash flows for the year ended June 30, 2017, using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)

(2) Compute the company's cash flow on total assets ratio for its fiscal year 2017.