The following financial statements and additional information are reported Additional Information a. A $30,000 notes payable is retired at its $30,000 carrying (book) value in exchange for cash b. The only changes affecting retained eamings are net income and cash dividends paid. c. New equipment is acquired for $57,600 cash. d. Received cash for the sale of equipment that had cost $48,600, yielding a $2,000 gain. e. Prepaid Expenses and Wages Payable relate to Operating Expenses on the income statement. 1. All purchases and sales of inventory are on credit. Exercise 1212 (Static) Part 2 (2) Compute the compony's cash flow on total assets ratio for its fiscal year 2021