IKIBAN INC. Comparative Balance Sheets June 30, 2019 and 2018 2019 2018 $195,700 69,500 66,800 4,700 246,700 127, e8e (28,500) $345,200 $ 47,000 54,600 91,000 6,000 198,000 118, eee 10,500) $385,500 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 Common stock, $5 par value Retained earnings Total liabilities and equity $ 28,000 6,300 3,709 38,000 33,000 71,000 $ 34,500 15,689 4.400 54,500 63,000 117,500 226,000 48,200 $345,200 163,000 25,000 $305,500 IKIBAN INC. Income Statement For Year Ended June 30, 2019 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense $61,600 Other expenses 70.000 Total operating expenses $693,000 414,000 279,000 Other gains (Losses) Gain on sale of equipment Income before taxes Income taxes expense Net Income 131,600 147,480 2.300 149,700 46,100 $105,510 Additional Information