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 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.

IKIBAN INC. Comparatlve Balance Sheets June 30, 2017 and 2016 2017 4010_ 87,500 44,000 51,000 86,500 4.400 5.100 186,900 115,000 (27.000) (9,000) 317,700 $292,900 Accounts receivable, net Inventory Prepaid expenses Total current assets 65,000 63,800 124,000 Accum. depreciation-Equipment Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total liabilities Equity Common stock, $5 par value Retained eamings Total liabilities and equity $25,000 30,000 15,000 3,800 48,800 60,000 108,800 6,000 3.400 34.400 30,000 64.400 220,000 160,000 33,30024,100 317,700 $292,900 IKIBAN INC. Income Statement For Year Ended June 30, 2017 Sales Cost of goods sold Gross profit Operating expenses $678,000 411,000 267,000 Depreciation expense Other expenses $58,600 67,000 Total operating expenses. 125,600 141,400 Other gains (losses) Gain on sale of equipment Income before taxes. Income taxes expense Net income 2,000 143,400 43,890 99,510