Exercise 12-11 Indirect: Preparing statement of cash flows LO P2, P3, [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, 2019 and 2018 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 2019 2018 $ 99,100 $ 58,000 86,000 77,800 65,000 107,500 5,800 8,200 268,700 238,700 138,000 129,000 (34,000) (16,000) $372,700 $ 39,000 $351,700 $ 51,000 17,800 6,600 7,400 4,800 51,200 75,400 44,000 74,000 95,200 149,400 Common stock, $5 par value 248,000 174,000 Retained earnings 29,500 28,300 Total liabilities and equity $372,700 $351,700