Exercise 12-19B (Algo) Direct: Preparing statement of cash flows LO P5 The following financial statements and additional information are reported. At June 30 Assets Cash Accounts receivable, net IKIBAN INCORPORATED Comparative Balance Sheets 2021 2020 $ 73,700 $ 67,000 99,500 74,000 86,800 121,000 6,700 10,000 266,700 272,000 147,000 138,000 (38,500) (20,500) $ 375,200 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 $ 48,000 $ 389,500 $ 64,500 8,300 19,600 5,700 8,400 62,000 92,500 34,600 83,000 96,600 175,500 266,000 183,000 12,600 31,000 $ 375,200 $ 389,500