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The following financial statements and additional information are reported.

IKIBAN INC. Comparative Balance Sheets June 30, 2013 and 2012
	2013				2012
Assets
Cash	$	92,700			$	52,300
Accounts receivable, net		69,600				51,600
Inventory		65,900				96,600
Prepaid expenses		5,500				4,400
Equipment		127,800				118,000
Accum. depreciationEquipment		(28,100	)			(10,900	)
Total assets	$	333,400			$	312,000
Liabilities and Equity
Accounts payable	$	26,300			$	32,100
Wages payable		8,000				16,300
Income taxes payable		2,500				3,900
Notes payable (long term)		42,000				72,000
Common stock, $5 par value		230,000				180,000
Retained earnings		24,600				7,700
Total liabilities and equity	$	333,400			$	312,000

IKIBAN INC. Income Statement For Year Ended June 30, 2013
Sales				$	677,000
Cost of goods sold					402,000
Gross profit					275,000
Operating expenses
Depreciation expense	$	58,500
Other expenses		66,600
Total operating expenses					125,100
					149,900
Other gains (losses)
Gain on sale of equipment					2,300
Income before taxes					152,200
Income taxes expense					60,880
Net income				$	91,320

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 $58,600 cash.
d.	Received cash for the sale of equipment that had cost $48,800, yielding a $2,300 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. Prepare a statement of cash flows for the year ended June 30, 2013, using the indirect method. Compute the company's cash flow on total assets ratio for its fiscal year 2013.

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