2 Required information The following information applies to the questions displayed below The following financial statements and additional information are reported Part 2 of 2 IKIBAN INC. Comparative Salance Sheets June 3e, 2017 and 2016 2017 2026 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipeent Accum. depreciation-Equipment Totel assets $102,700 77,000 71,800 52,080 59,000 98,5e0 5.289008 123,000 $357,700 $326,500 78216,50 256,7e0 132,000 81,809) 13,890) Liabilities and Equity Accounts payable Wages payable Income toaxes payable Total current 1iabilities Notes payable (long term) Total liabilities Equity Common stock, $5 per value Retained earnings Total 1iabilities and equity s 33,000 6,800 $ 42,000 16,600 4,200 480 64,000 68.0e0 82,000 132,000 44,000 38,000 236,000 168,000 39,700 26500 $357,70 $326,500 KBArg INC Income Statement For Year Ended June 30, 2017 5718,000 19 90 299.00 Sales Cost of goods sold Gross profit