Required information Exercise 12-11 Indirect: Preparing statement of cash flows LO P1, P2, P3, A1 The following information applies to the questions displayed below. The following financial statements and additional information are reported Comparative Salance Sheets June 30, 2017 and 2016 201 Aasets Cash 87,500 44,000 63,80086,500 220,700 186,900 Accounts recelvable, net Inventory Prepaid expenses Total current asseta Equipment Accum. depreciation-Equipment Total assets Liabilities and BEquity Accounts payable Wages payable Incone taxes payable Total current liabilities Sotes payable (1ong term) total 1sabilities Equity Conmon stock, 5 par value Retained earnings 51,000 124,000 115,000 127,00019,000) 317,700 $292,900 25,000 30,000 3.400 3,800 -0,000??0,000 6,000 15,000 34,400 64,400108,8 220,000160,000 33-300 24 1OD Total 1iabilities and equity 317,700 $292,90 KIBAN Incone Statenent Year Ended June 30 678,oD Cost of goods sold Gross profit Operating expesos 58,600 Depreciation expense C Prev345 of 7 Next> 5 6 8 3