The following financial statements and additional information are reported.

IKIBAN INC. Comparative Balance Sheets June 30, 2015 and 2014

	2015				2014
Assets
Cash	$	98,700			$	60,200
Accounts receivable, net		69,200				51,700
Inventory		66,800				96,100
Prepaid expenses		4,300				5,500
Total current assets		239,000				213,500
Equipment		132,700				117,000
Accum. depreciationEquipment		(28,900	)			(10,000	)
Total assets	$	342,800			$	320,500
Liabilities and Equity
Accounts payable	$	26,100			$	32,300
Wages payable		7,000				16,300
Income taxes payable		2,400				4,300
Total current liabilities		35,500				52,900
Notes payable (long term)		51,000				72,000
Total liabilities		86,500				124,900
Equity
Common stock, $5 par value		231,000				188,000
Retained earnings		25,300				7,600
Total liabilities and equity	$	342,800			$	320,500

IKIBAN INC. Income Statement For Year Ended June 30, 2015

Sales				$	671,000
Cost of goods sold					403,000
Gross profit					268,000
Operating expenses
Depreciation expense	$	52,400
Other expenses		66,200
Total operating expenses					118,600
					149,400
Other gains (losses)
Gain on sale of equipment					2,400
Income before taxes					151,800
Income taxes expense					60,720
Net income				$	91,080

Additional Information

a.	A $21,000 note payable is retired at its $21,000 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 $63,800 cash.
d.	Received cash for the sale of equipment that had cost $48,100, yielding a $2,400 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.

Prepare a statement of cash flows for the year ended June 30, 2015, using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)

IKIBAN, INC.

Statement of Cash Flows (Indirect Method)
For Year Ended June 30, 2015
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
Net increase (decrease) in cash
Cash balance at prior year-end
Cash balance at current year-end

Compute the company's cash flow on total assets ratio for its fiscal year 2015.

Cash Flow on Total Assets Ratio

Choose Numerator:	/	Choose Denominator:	=	Cash Flow on Total Assets Ratio
	/		=	Cash flow on total assets ratio
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