Required information Exercise 16-11 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 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 $ 96,100 63,0e0 70,000 115,000 9,200 257, 200 134,000 93,500 82,800 6,300 278,700 143,000 (36,500) (18,500 $385,200 372,700 Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total 1iabilities Equity Common stock, $5 par value Retained earnings Total liabilities and equity 44,000 58,500 18,800 7,600 7,900 5,300 57,200 49,000 106,206 84,900 79,000 163,900 258,000 21,000 179,000 29,800 $385,200$372,700