me onowing mormsuor appues to ne quesions dispiayed berow The following financial statements and additional information are reported. IKIBAN ING Comparative Balance Sheets June 30, 2015 and 2014 2015 2014 Assets Cash Accounts receivable, net Inventory Prepaid expenses $110,300 55,500 51,200 96,700 5,900 69,400 66,200 4,600 Total current assets Equipment Accum depreciation-Equipment 250,500 130,000 (28,600) 209,300 119,000 (10,200) Total assets $351,900 $318,100 Liabilities and Equity Accounts payable Wages payable Income taxes payable $26,900$32,900 6,600 4.000 7,300 2,300 Total current liabilities Notes payable (long term) 36,500 52,000 53,500 72,000 Total liabilities Equity Common stock, $5 par value Retained earnings 88,500 125,500 238,000185,00o 7,600 25,400 Total liabilities and equity 351,900 $318,100