The following financial statements and additional information are reported.

IKIBAN INCORPORATED
Comparative Balance Sheets
At June 30	2021	2020
Assets
Cash	$ 94,300	$ 66,000
Accounts receivable, net	98,000	73,000
Inventory	85,800	119,500
Prepaid expenses	6,600	9,800
Total current assets	284,700	268,300
Equipment	146,000	137,000
Accumulated depreciation—Equipment	(38,000)	(20,000)
Total assets	$ 392,700	$ 385,300
Liabilities and Equity
Accounts payable	$ 47,000	$ 63,000
Wages payable	8,200	19,400
Income taxes payable	5,600	8,200
Total current liabilities	60,800	90,600
Notes payable (long term)	52,000	82,000
Total liabilities	112,800	172,600
Equity
Common stock, $5 par value	264,000	182,000
Retained earnings	15,900	30,700
Total liabilities and equity	$ 392,700	$ 385,300

IKIBAN INCORPORATED
Income Statement
For Year Ended June 30, 2021
Sales	$ 788,000
Cost of goods sold	433,000
Gross profit	355,000
Operating expenses (excluding depreciation)	89,000
Depreciation expense	80,600
	185,400
Other gains (losses)
Gain on sale of equipment	4,200
Income before taxes	189,600
Income taxes expense	46,090
Net income	$ 143,510

Additional Information

1. A $30,000 notes 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 $79,600 cash.
4. Received cash for the sale of equipment that had cost $70,600,yielding a $4,200 gain.
5. Prepaid Expenses and Wages Payable relate to Operating Expenses on the income statement.
6. All purchases and sales of inventory are on credit.

(2) Compute the company’s cash flow on total assets ratio for its fiscal year 2021.

Cash Flow on Total Assets Ratio Choose Numerator:/Choose Denominator:=Cash Flow on Total Assets Ratio/=Cash flow on total assets ratio/=0