Required Information Exercise 12-12 (Algo) Indirect: Preparing statement of cash flows LO P2, [The following Information applies to the questions displayed below.] The following financial statements and additional Information are reported. IKIBAN INCORPORATED Comparative Balance Sheets At June 30 Assets 2021 Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accumulated depreciation-Equipment 2020 $ 97,300 90,500 $ 61,000 80,800 68,000 112,000 6,100 8,800 274,700 249,899 141,000 132,000 (35.500) (1),500) 1380,200 $ 364,300 Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable $ 55,500 7-708 18,400 5,159 7,200 Total current liabilities Notes payable (long term) 54.829 81,100 47.000 77,000 Total liabilities 101 800 158.100 Equity Common stock. 96 par values Retained eainanes 254,000 29.269 Ictal liabilities and anuity $389,200 IKIBAN INCORPORATED Income Statement or year ended June 19, 2021