Sales Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense IKIBAN INCORPORATED Income Statement For Year Ended June 30, 2021 Other gains (losses) Gain on sale of equipment Income before taxes Income taxes expense Net income Additional Information Choose Numerator: 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 $59,600 cash. $ 688,000 413,000 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 Operating Expenses on the income statement. f. All purchases and sales of inventory are on credit. 275,000 69,000 60,600 145,400 Exercise 12-12 (Algo) Part 2 (2) Compute the company's cash flow on total assets ratio for its fiscal year 2021. Cash Flow on Total Assets Ratio Choose Denominator: 1 2,200 147,600 44,090 $ 103,510 = Cash Flow on Total Assets Ratio Cash flow on total assets ratio 0

Additionel Information a. A $30,000 notes poybble is retired at its $30,000 corrying (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. Recelved cash for the sale of equipment that had cost $50,600, yleiding a $2,200 gain e. Prepaid Expenses and Woges Payable relate to Operoting Expenses on the income statement. f. All purchases and soles of inventory are on credit. Exercise 12-12 (Algo) Part 2 (2) Compute the company/s cash flow on totai assets ratio for its fiscal year 2021. 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 $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 Operating Expenses on the income statement. f. All purchases and sales of inventory are on credit. Exercise 12-12 (Algo) Part 2 (2) Compute the company's cash flow on total assets ratio for its fiscal year 2021 Exercise 12-12 (Algo) Indirect: Preparing statement of cosh flows LO P2, P3, A1 [The following information applies to the questions displayed below] The following financial statements and additional information are reported