IKIBAN INCORPORATED Comparative Balance Sheets At June 30 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accumulated depreciation-Equlpment Total assets 2021 Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total liabilities \begin{tabular}{rr} \hline 88,500 & $44,000 \\ 65,000 & 51,000 \\ 63,800 & 86,500 \\ 4,400 & 5,400 \\ \hline 220,700 & 186,900 \\ 124,000 & 115,000 \\ (27,000) & (9,000) \\ \hline$317,700 & $292,900 \\ \hline \end{tabular} Equity Common stock, $5 par value Retained earnings Total liabilities and equity \begin{tabular}{|rr|} \hline$25,000 & $30,000 \\ \hline 6,000 & 15,000 \\ 3,400 & 3,800 \\ \hline 34,400 & 48,800 \\ 30,000 & 60,000 \\ \hline 64,400 & 108,800 \\ \hline \end{tabular} IKIBAN INCORPORATED Income Statement For Year Ended June 30, 2021 Sales Cost of goods soid Gross profit Operating expenses (excluding depreciation) Depreciation expense $678,000411,000267,00067,00058,600 (Use cells A3 to A25 from Chart of Accounts A4 to G48 from the given information to complete this question. (Amounts to be deducted should be indicated with a minus sign.)) IKIBAN, INCORPORATED Statement of Cash Flows (Indirect Method) For Year Ended June 30, 2021 Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities Cash flows from investing activities Cash flows from financing activities Net increase (decrease) in cash 84 Cash balance at prior year-end 85 Cash balance at current year-end 86 87 38 Students: The scratchpad area is for you to do any additional work you need to solve this question or can be used to show your y