Required information [The following information applies to the questions displayed below] The following financial statements and additional information are reported. Additional Information a. A $30,000 notes payable is retired at its $30,000 carrying (book) value in exchange for cash. b. The only changes affecting retained eamings are net income and cash dividends paid c. New equipment is acquired for $82,600cash. d. Received cash for the sale of equipment that had cost $73,600, yielding a $4,500 gain. e. Prepaid Expenses and Wages Payable relate to Operating Expenses on the income statement f. All purchases and sales of inventory are on credit. IKIBAN, INCORPORATED Statement of Cash Flows (Indirect Method) For Year Ended June 30, 2021 Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Additional Information a. A $30,000 notes 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 $82,600 cash. d. Recelved cash for the sale of equipment that had cost $73,600, ylelding a $4,500 gain. e. Prepaid Expenses and Wages Payable relate to Operating Expenses on the income statement 1. All purchases and sales of inventory are on credit (2) Compute the company's cash flow on total assets ratio for its fiscal year 2021