Required Information

Exercise $12-12($Algo$)$ Indirect: Preparing statement of cash flows LO P$2,$ P$3,$ A$1$

$[$The following informotion opplies to the questions disployed below.$]$

The following financial statements and additionsl informstion are reported.

Additional Information

a$.$ A $$30,000$ notes poysble is retired at its $$30,000$ corrying $($book$)$ volue in exchange for cosh$.$

b$.$ The only changes affecting retained earnings are net income and cash dividends paid.

c$.$ New equipment is ocquired for $$69,600cosh.$

d$.$ Received cosh for the sole of equipment that hod cost $$60,600,$ yielding o $$3,200$ gsin.

e$.$ Prepaid Expenses and Woges Poysble relate to Operating Expenses on the income statement.

f$.$ All purchoses and sales of inventory ore on credit.

Exerclse $12-12($Algo$)$ Part $2$

$(2)$ Compute the company's cosh flow on totsl sssets rotio for its fiscal year $2021.$