Exercise 12-11 indirect: Preparation of statement of cash flows LO P1, P2, P3, A1 IThe following information applies to the questions displayed belowj The following financial statements and additional information are reported. KIBAN INC. Comparative Balance Sheets June 30, 2015 and 2014 2015 2014 Assets 105,600 55,400 Cash 69,700 Accounts receivable, net 51,000 96,500 66,500 Inventory 5,000 5,800 Prepaid expenses Total current assets 246,800 208,700 118,000 Equipment 129100 (28.100) Accum. depreciation Equipment 0100 347,800 316,600 Total assets Liabilities and Equity 26,500 32,700 Accounts payable 16,600 Wages payable 7800 2,600 Income taxes payable 4100 53,400 36,900 Total current liabilities Notes payable (long term) 48,000 73,000 126,400 Total liabilities 84.900 Equity Common stock, $5 par value 238,000 182,000 Retained earnings 24,900 8,200 347.800 316,600 Total liabilities and equity