ment 16-04 IKIBAN INCORPORATED Comparative Balance Sheets At June 30 Assets Cash Accounts receivable, net Saved 2021 2020 $ 95,500 95,000 83,800 $ 64,000 71,000 116,500 6,400 9,400 280,700 260,900 144,000 135,000 (37,000) (19,000) ences Inventory Prepaid expenses Total current assets Equipment Accumulated 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 Sales 8,000 5,400 $387,700 $ 45,000 $ 376,900 $ 60,000 19,000 7,800 58,400 86,800 50,000 80,000 188,400 166,800 260,000 180,000 19,300 30,100 $387,700 $376,900 IKIBAN INCORPORATED Income Statement For Year Ended June 30, 2021 $ 778,000 431,000 347,000 87,000 Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Other gains (losses) Gain on sale of equipment Income before taxes Income taxes expense Net income Additional Information 2 W # F3 14 E R 78,600 181,400 4,000 185,400 45,890 $ 139,510 < MacBook Air 56 9K 5 T A 6 220 &7 99 Dil ww Y U 00