please answer and explian!

IKIBAN INC. Comparative Balance Sheets June 30, 2017 and 2016 2017 2016 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accum. depreciation-Equipment Total assets $93,100 68,000 75,000 122,500 10,200 275,700 139,000 101,000 87,800 6,800 288,700 148,000 (39,000) (21,000) $397,700 393,700 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 49,000 66,000 19,800 8,600 8,400 5,8008000 94,400 54,00084,000 .200178,400 184,000 31,300 $397,700 393,700 268,000 12,500 Total liabilities and equity