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[The following information applies to the questions displayed below.] The following financial statements and additional information are reported.

IKIBAN INC. Comparative Balance Sheets June 30, 2019 and 2018
	2019				2018
Assets
Cash	$	95,500			$	64,000
Accounts receivable, net		95,000				71,000
Inventory		83,800				116,500
Prepaid expenses		6,400				9,400
Total current assets		280,700				260,900
Equipment		144,000				135,000
Accum. depreciationEquipment		(37,000	)			(19,000	)
Total assets	$	387,700			$	376,900
Liabilities and Equity
Accounts payable	$	45,000			$	60,000
Wages payable		8,000				19,000
Income taxes payable		5,400				7,800
Total current liabilities		58,400				86,800
Notes payable (long term)		50,000				80,000
Total liabilities		108,400				166,800
Equity
Common stock, $5 par value		260,000				180,000
Retained earnings		19,300				30,100
Total liabilities and equity	$	387,700			$	376,900

IKIBAN INC. Income Statement For Year Ended June 30, 2019
Sales				$	778,000
Cost of goods sold					431,000
Gross profit					347,000
Operating expenses
Depreciation expense	$	78,600
Other expenses		87,000
Total operating expenses					165,600
					181,400
Other gains (losses)
Gain on sale of equipment					4,000
Income before taxes					185,400
Income taxes expense					45,890
Net income				$	139,510

Additional Information

1. A $30,000 note payable is retired at its $30,000 carrying (book) value in exchange for cash.
2. The only changes affecting retained earnings are net income and cash dividends paid.
3. New equipment is acquired for $77,600 cash.
4. Received cash for the sale of equipment that had cost $68,600, yielding a $4,000 gain.
5. Prepaid Expenses and Wages Payable relate to Other Expenses on the income statement.
6. All purchases and sales of inventory are on credit.

(2) Compute the companys cash flow on total assets ratio for its fiscal year 2019.