Complete a horizontal analysis of the balance sheet shown below. IKIBAN, INC. Comparative Balance Sheets June 30, 2015 and 2014 2015 2014 Assets: Cash 96, 600 59, 200 Accounts receivable, net 69, 200 51, 700 Inventory 66, 800 96, 400 Prepaid expenses 4, 600 5, 900 Total current assets 237, 200 213, 200 1 Equipment 133, 200 117,000 Accumulated Depreciation-Equipment (29.000) (10.500) Total assets 341.400 319.700 Liabilities and Equity Accounts payable 26, 800 33,000 Wages payable 7, 100 16, 700 Income taxes payable 2.900 3, 600 Total current liabilities 36, 800 53, 300 Notes payable (long term) 44,000 73.000 Total liabilities 80, 800 126, 300 Equity Common stock, $5 par value 236,000 185,000 Retained earnings 24, 600 8, 400 Total liabilities and equity 341.400 319.700