Required information

[The following information applies to the questions displayed below.] The following financial statements and additional information are reported.

IKIBAN INC. Comparative Balance Sheets June 30, 2019 and 2018
	2019				2018
Assets
Cash	$	96,100			$	63,000
Accounts receivable, net		93,500				70,000
Inventory		82,800				115,000
Prepaid expenses		6,300				9,200
Total current assets		278,700				257,200
Equipment		143,000				134,000
Accum. depreciationEquipment		(36,500	)			(18,500	)
Total assets	$	385,200			$	372,700
Liabilities and Equity
Accounts payable	$	44,000			$	58,500
Wages payable		7,900				18,800
Income taxes payable		5,300				7,600
Total current liabilities		57,200				84,900
Notes payable (long term)		49,000				79,000
Total liabilities		106,200				163,900
Equity
Common stock, $5 par value		258,000				179,000
Retained earnings		21,000				29,800
Total liabilities and equity	$	385,200			$	372,700

IKIBAN INC. Income Statement For Year Ended June 30, 2019
Sales				$	773,000
Cost of goods sold					430,000
Gross profit					343,000
Operating expenses
Depreciation expense	$	77,600
Other expenses		86,000
Total operating expenses					163,600
					179,400
Other gains (losses)
Gain on sale of equipment					3,900
Income before taxes					183,300
Income taxes expense					45,790
Net income				$	137,510

Additional Information

1. A $30,000 note payable is retired at its $30,000 carrying (book) value in exchange for cash.
2. The only changes affecting retained earnings are net income and cash dividends paid.
3. New equipment is acquired for $76,600 cash.
4. Received cash for the sale of equipment that had cost $67,600, yielding a $3,900 gain.
5. Prepaid Expenses and Wages Payable relate to Other Expenses on the income statement.
6. All purchases and sales of inventory are on credit.

Required:

(1) Prepare a statement of cash flows using the indirect method for the year ended June 30, 2019. (Amounts to be deducted should be indicated with a minus sign.)

IKIBAN, INC Statement of Cash Flows (Indirect Method) For Year Ended June 30, 2019 Cash flows from operating activities 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 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 2019. Cash Flow on Total Assets Ratio Choose Numerator: / Choose Denominator: Cash Flow on Total Assets Ratio / Cash flow on total assets ratio / =