Required information Exercise 12-11 Indirect: Preparing statement of cash flows LO P1, P2, P3, A1 The following information applies to the questions displayed below) The following financial statements and additional information are reported. Part 2 of 3 1.25 points Conparative Balance Sheets June 30, 2017 and 2016 2017 2016 $106,300 46,000 53,000 89,500 5,800 194,300 117,000 128,000) (10,000 $342,700 301,300 Cash Accounts receivablc, net Inventory 04:03:24 6B,000 65, 800 4,600 244,700 126,000 Total current assets Equipment Accun. depreciation Equipment Total assets eBook Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Sotes payable (long term) Total liabilities Equity Common stock, 5 par value Retained earnings Total 1iabilities and equity $ 27,000 33,000 15,400 3,600 4,200 52, 500 32,000 62.000 114,600 Hint 6,200 Print 6B, 800 224,000 49.90024700- 162,000 References $342,700 301,300 Income Statenent For Year Ended June 30, 2017 Sales Cost of goods sold Groas profit Operating expensea $688,000 413,000 275,000 Depreciation expense Other expenses $60, 600 69,000 Total operating expenses Other gains {losses) Incone before taxes 129, 600 145,400 Gain on sale of equipment 2,200 Set income $103,510 eBook 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 $59,600 cash. d. Received cash for the sale of equipment that had cost $50,600, yielding a $2,200 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. Hint Print References Exercise 12-11 Part 2 (2) Compute the company's cash flow on total assets ratio for its fiscal year 2017. Choose Numerator: Choose - Cash Flow on Total Assets Ratio Cash fow on total assets rato