The following financial statements and additional information are reported.

Additional Information
a. A $ 30,000 note 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 $ 57,600 cash.
d. Received cash for the sale of equipment that had cost $48,600, yielding a $2,000 gain.
e. Prepaid Expenses and Wages Payable relate to Other Expenses on the income statement.
f. All purchases and sales of merchandise inventory are on credit.

Required
(1) Prepare a statement of cash flows for the year ended June 30, 2013, using the indirect method,
(2) Compute the company€™s cash flow on total assets ratio for its fiscal year2013.

IKIBAN INC. Comparative Balance Sheets June 30, 2013 and 2012 2012 Assets IKIBAN INC. Income Statement For Year Ended June 30, 2013 Accounts receivable. net Sales. Cost of goods sold Gross profit. Operating expenses 65,000 51,000 63,800 86,500 5.400 124.000 115,000 $678,000 411,000 Prepaid expenses .. ..4.400 Equipment1 Accum depreciation Equipment(270009,000 Depreciation expense $58,600 ...67.000 Other expenses. Total operating expenses.... Liabilities and Equity 125,600 Accounts payable .. .. 25.000 30.000 6,000 15,000 3.800 2,000 Notes payable (long term) 30,000 60,000 220.000 160,000 24.100 $ 99.510 Total liabilities and equity $317,700 $292,900 141.400 Wages payable. Other gains (losses) Income taxes payable . 3.400 Gain on sale of equipment. Income before taxes Income taxes expense Net income 43,400 Common stock, $5 par value.2 43,890 Recained earnings 33,300