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Exercise 12-11 Indirect: Preparing statement of cash flows LO P1, P2, P3, A1 [The following information applies to the questiAdditional Information a. A $30.000 note payable is retired at its $30,000 carrying (book) value in exchange for cash. b. The

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Answer #1
IKIBAN INC
Statement of Cash flows
For the year ended June 30, 2017
Cash flow from operating activities
Cash received from customers $   6,64,000 678000+51000-65000
Cash paid to suppliers $ -3,93,300 411000+30000-25000+63800-86500
Cash paid for operating expenses $     -75,000 67000+15000-6000+4400-5400
Cash paid for income tax expense $     -44,290 43890+3800-3400
Net cash provided by operating activities $ 1,51,410
Cash flow from investing activities
Cash paid to purchase of equipment $     -57,600
Cash received from sale of equipment $      10,000 48600-(9000+58600-27000)+2000
Net cash used by investing activities $   -47,600
Cash flow from financing activities
Cash received from issuance of common stock $      60,000
Cash paid to retire note $     -30,000
Cash paid for dividends $     -90,310 33300-24100-99510
Net cash used by financing activities $   -60,310
Increase in cash $     43,500
Cash at the beginning of the year $     44,000
Cash at the end of the year $     87,500
Operating cash flow / Average total assets = Cash flow on total assets ratio
$151,410 / (($317,700+$292,900)/2) = Cash flow on total assets ratio
$151,410 / (($317,700+$292,900)/2) = 49.5938%

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