Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accum. depreciation-Equipment Total assets $96,100 63, 93,500 82,800 6,300 278,700 143,000 70,800 115,000 9,200 257,200 134,800 (36,580) (18,500) $385,200 $372,700 Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total liabilities Equity Common stock, $5 par value Retained earnings Total liabilities and equity $ 44,800 58,580 18,860 7,600 84,900 7,900 5,300 57,200 49,00079106 186,200 630 -146.280 163,98 258,000 179,000 21,88829, 800 $385,200 $372,780 IKIBAN Income Statement For Year Ended June 30, 2017 Sales Cost of goods sold Gross profit Operating expenses $773,000 430,000 343,000 Depreciation expense $77,600 86,000 Other expenses Total operating expenses 163 600 179,400 Other gains flosses) Gain on sale of equipment Income before taxes Income taxes expense 3.900 183,30o 45,7 income 5137,520