Exercise 12-12 (Algo) Indirect: Preparing statement of cash flows LO P2, P3, A1 [The following information applies to the questions displayed below.] *The following financial statements and additional information are reported. At June 30 Assets Cash IKIBAN INCORPORATED Comparative Balance Sheets Accounts receivable, net Inventory 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 2021 $ 106,900 66,500 64,800 4,500 242,700 125,000 (27,500) $ 340,200 $ 26,000 6,100 3,500 35,600 31,000 66,600 222,000 51,600 $ 340,200 Prev 2020 $ 45,000 52,000 88,000 5,600 190,600 116,000 (9,500) $ 297,100 $ 31,500 15,200 4,000 50,700 61,000 111,700 161,000 24,400 $ 297,100 S 1 2 of 2 Next >

Exercise 12-12 (Algo) Indirect: Preparing statement of cash flows LO P2, P3, A1 [The following information applies to the questions displayed below.] - The following financial statements and additional information are reported