Exercise 12-11 Indirect: Preparing statement of cash flows LO P1, P2, P3, A1 The following information applies to the questions displayed below. The following financial statements and additional information are reported IKIBAN INC Comparative Balance Sheets June 30, 2017 and 2016 2017 2016 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accum. 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 $101,500 54,000 61,000 101,500 7,400 223,900 125,000 14,000 $362,700 $334,900 80,000 73,800 5,400 260,700 134,000 (32,000) $ 35,000 45,000 17,000 5,800 67,800 70,000 86,400 137,800 7,000 4,400 46,400 40,000 170,000 27,100 $362,700 334,90e 240,900 36,300