IKIBAN INC. Comparative Balance Sheets June 30, 2018 and 2017 2018 2017 $ 85,798 69,500 66,882 4,700 226.700 127.39 (28,580) $325,200 $ 47.ee 54.90 91,099 6,99 198,000 118.99 (10,500) $305,500 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accum. depreciation-Equipment Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total liabilities Equity Common stock, $5 par value Retained earnings Total liabilities and equity $28.089 6,392 3,799 38,000 33,00 71,00 $34.599 15,600 4.408 54.589 63,000 117,500 226,690 28, 290 $325,200 163,000 25.eae $385,500 IKIBAN INC. Income Statement For Year Ended June 30, 2018 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense $61,600 Other expenses 70, Total operating expenses $693.000 414,000 279,90 131,600 147,490 Other gains (losses) Gain on sale of equipment Income before taxes Income taxes expense Net income 2,380 149,700 44, 190 $105,510 Additional Information 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 $60.600 cash. d. Received cash for the sale of equipment that had cost $51,600. yielding a $2,300 gain. e. Prepaid Expenses and Wages Payable relate to Other Expenses on the income statement. f. All purchases and sales of inventory are on credit. Compute the company's cash flow on total assets ratio for its fiscal year 2018. oose Numerator: Cash Flow on Total Assets Ratio Choose Denominator: = Cash Flow on Total Assets Ratio Cash flow on total assets ratio