Required information [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 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 Common stock, $5 par value Retained earnings Total liabilities and equity $ 87,500 $ 44,000 65,000 63,800 51,000 86,500 4,400 5,400 220,700 186,900 124,000 115,000 (27,000) (9,000) $317,700 $292,900 $ 25,000 $ 30,000 6,000 3,400 15,000 3,800 34,400 48,800 30,000 60,000 64,400 108,800 220,000 160,000 33,300 24,100 $317,700 $292,900 TVTDRA