Exercise 16-11 preparing a statement of cash flow.

The following financial statements and additional information are reported. IKIBAN INC Comparative Balance Sheets June 30, 2017 and 2016 2017 2016 Assets Cash s 87,500 44,000 51,000 Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accum. depreciation-Equipment 65,000 63,800 4.400 86, 500 5.400 409 220,700186,9e 124,000 115,000 (27,008)(9,009) Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total 1iabilities $ 317,700 $292,900 s 25,000 3e,000 15,000 3,800 48,800 30,9ee6,883 108,800 6,000 3,400 34,400 64,400188 Equity Common stock, $5 par value Retained earnings Total liabilities and equity 220,00016e,ee0 33,30324 100 317,70$292,900 IKIBAN INc. Income Statement 12 of 4