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 $ 97,300 $ 61,000 68,000 112,000 8,800 249,800 132,000 (35,500) (17,500 $380,200 $364,300 90,500 80,800 6,100 274,700 141,000 Liabilities and Equity Accounts payable Wages payablee Income taxes payable Totalcurrent liabilities Notes payable (long term) Total liabilities Equity Common stock, 5 par valuee Retained earnings $ 42,000 7,700 5,100 54,800 47,000 101,800 55,500 18,400 7.200 81,100 77.000 158,100 177,000 29,200 $380,200 $364,300 254,000 24,400 Total liabilities and equity