IKIBAN INC. Comparative Balance Sheets June 30, 2015 and 2014 2015 2014 Assets Cash Accounts receivable, net Inventory Prepaid expenses $ 87,500 44,000 51,000 86,500 5,400 65,000 63,800 4,400 Total current assets Equipment Accum. depreciation-Equipment 220,700 124,000 (27,000) 186,900 115,000 (9,000) Total assets $ 317,700 292,900 Liabilities and Equity Accounts payable Wages payable Income taxes payable $ 25,000 30,000 15,000 3,800 6,000 3,400 Total current liabilities 34,400 48,800 60,000 Notes payable (long term) Total liabilities Equity Common stock, $5 par value Retained earnings 30,000 64,400 220,000 108,800 160,000 24,100 33,300 Total liabilities and equity $ 317,700 292,900