Required information Exercise 12-12 (Algo) Indirect: Preparing statement of cash flows LO P2, P3, A1 [The following information applies to the questions displayed below.] The following financial statements and additional information are reported. IKIBAN INC. Comparative Balance Sheets At June 30 Assets S 2020 2019 Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accum. depreciation-Equipment Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total liabilities. Equity $ 95,500 95,000 $ 64,000 71,000 83,800 116,500 6,400 9,400 280,700 260,900 144,000 135,000 (37,000) (19,000) $387,700 $376,900 $ 45,000 $ 60,000 8,000 19,000 5,400 7,800 58,400 86,800 50,000 80,000 108,400 166,800 Common stock, $5 par value 260,000 180,000 Retained earnings 19,300 30,100 Total liabilities and equity $387,700 $376,900