At June 30 Assets Cash Accounts receivable net Inventory IKIBAN INCORPORATED Comparative Balance Sheets 2021 Prepaid expenses Total current assets Equipment Accumulated depreciation Equipment Total assets 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 Sales Cost of goods sold Gross profit 105 700 69 500 66 800 4 700 Other gains losses Cain en 246 700 127 000 28 500 345 200 28 000 6 300 3 700 38 000 33 000 71 000 IKIBAN INCORPORATED Income Statement For Year Ended June 30 2021 226 000 48 200 345 200 Operating expenses excluding depreciation Depreciation expense 2020 47 000 54 000 91 000 6 000 198 000 118 000 10 500 305 500 34 500 15 600 4 400 54 500 63 000 117 500 163 000 25 000 305 500 693 000 414 000 279 000 70 000 61 600 147 400