me TOITOWITTg Hilancial Statements dulu duulloid INTUITIILOR dereporteu. IKIBAN INC. Comparative Balance Sheets June 30, 2017 and 2016 2017 2016 $106,300 68,000 65,800 4,600 244,700 126,eee (28,000) $342,700 $ 46,000 53,000 89,500 5,800 194,300 117,000 (10,000) $301,300 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 $ 27,000 6,200 3,600 36,800 32,000 68,800 $ 33,000 15,400 4,200 52,600 62,00 114,600 224,000 49,900 $342,700 162,000 24,700 $301,300 IKIBAN INC. Income Statement For Year Ended June 30, 2017 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense $60,600 Other expenses 69,000 Total operating expenses $688,000 413,000 275,000 129,600 145,400 Other gains (losses) Gain on sale of equipment Income before taxes Income taxes expense Net income 2,200 147,600 44,090 $103,510 IKIBAN, INC. tatement of Cash Flows (Indirect Method) For Year Ended June 30, 2017 Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities Income statement not affecting cash OD | Changes in current operating assets and liabilities D SI TI TTT 21 IS TTTTTTTT Cash flows from investing activities Cash flows from financing activities Saved Required information 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 Cash flows from investing activities Cash flows from financing activities Net increase (decrease) in cash Cash balance at prior year-end Cash balance at current year-end (2) Compute the company's cash flow on total assets ratio for its fiscal year 2017 Choose Numerator: Cash Flow on Total Assets Ratio Choose Denominator: = Cash Flow on Total Assets Ratio Cash flow on total assets ratio Using the direct method, prepare the statement of cash flows for the year ended June 30, 2017 (Amounts to be deducted should be indicated with a minus sign.) IKIBAN, INC. Statement of Cash Flows (Direct Method) For Year Ended June 30, 2017 Cash flows from operating activities Cash flows from investing activities Cash flows from financing activities Net increase (decrease) in cash Cash balance at prior year-end Cash balance at current year and