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The following financial statements and additional information are reported.

IKIBAN INC. Comparative Balance Sheets June 30, 2015 and 2014
	2015				2014
Assets
Cash	$	110,400			$	67,800
Accounts receivable, net		69,700				51,200
Inventory		66,400				96,400
Prepaid expenses		5,000				6,100
Total current assets		251,500				221,500
Equipment		134,500				119,000
Accum. depreciationEquipment		(28,900	)			(10,600	)
Total assets	$	357,100			$	329,900
Liabilities and Equity
Accounts payable	$	26,800			$	32,900
Wages payable		7,600				16,900
Income taxes payable		2,600				4,000
Total current liabilities		37,000				53,800
Notes payable (long term)		59,000				79,000
Total liabilities		96,000				132,800
Equity
Common stock, $5 par value		236,000				189,000
Retained earnings		25,100				8,100
Total liabilities and equity	$	357,100			$	329,900

IKIBAN INC. Income Statement For Year Ended June 30, 2015
Sales				$	671,000
Cost of goods sold					408,000
Gross profit					263,000
Operating expenses
Depreciation expense	$	52,100
Other expenses		66,400
Total operating expenses					118,500
					144,500
Other gains (losses)
Gain on sale of equipment					2,700
Income before taxes					147,200
Income taxes expense					58,880
Net income				$	88,320

Additional Information

a.	A $20,000 note payable is retired at its $20,000 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 $48,300, yielding a $2,700 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, 2015, using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) (2) Compute the company's cash flow on total assets ratio for its fiscal year 2015.

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