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par value Retained earnings Total liabilities and equity 244,000 32,900 $367,700 172,000 27, 700 $343,300 IKIBAN INC. Income Statement For Year Ended June 30, 2019
par value Retained earnings Total liabilities and equity 244,000 32,900 $367,700 172,000 27, 700 $343,300 IKIBAN INC. Income Statement For Year Ended June 30, 2019 Sales Coet of goods sold Gross profit Operating expenses Depreciation expense $70,600 Other expenses 79.000 Total operating expenses $738,000 423,000 315.000 149,600 165,400 Other gains (losses) Gain on sale of equipment Income before taxes Income taxes expense Net income 3,200 168,600 45,090 $123,510 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 pald. c. New equipment is acquired for $69,600 cash. d. Received cash for the sale of equipment that had cost $60,600. yielding a $3,200 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 (2) Compute the company's cash flow on total assets ratio for its fiscal year 2019. Cash Flow on Total Assets Ratio RL of 4 Next
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