The following financial statements and additional information are reported.

IKIBAN INC. Comparative Balance Sheets June 30, 2017 and 2016
	2017				2016
Assets
Cash	$	106,900			$	45,000
Accounts receivable, net		66,500				52,000
Inventory		64,800				88,000
Prepaid expenses		4,500				5,600
Total current assets		242,700				190,600
Equipment		125,000				116,000
Accum. depreciationEquipment		(27,500	)			(9,500	)
Total assets	$	340,200			$	297,100
Liabilities and Equity
Accounts payable	$	26,000			$	31,500
Wages payable		6,100				15,200
Income taxes payable		3,500				4,000
Total current liabilities		35,600				50,700
Notes payable (long term)		31,000				61,000
Total liabilities		66,600				111,700
Equity
Common stock, $5 par value		222,000				161,000
Retained earnings		51,600				24,400
Total liabilities and equity	$	340,200			$	297,100

IKIBAN INC. Income Statement For Year Ended June 30, 2017
Sales				$	683,000
Cost of goods sold					412,000
Gross profit					271,000
Operating expenses
Depreciation expense	$	59,600
Other expenses		68,000
Total operating expenses					127,600
					143,400
Other gains (losses)
Gain on sale of equipment					2,100
Income before taxes					145,500
Income taxes expense					43,990
Net income				$	101,510

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 $58,600 cash.
4. Received cash for the sale of equipment that had cost $49,600, yielding a $2,100 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 for the year ended June 30, 2017, using the indirect method.

(2) Compute the company's cash flow on total assets ratio for its fiscal year 2017.