Saved 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 $102,100 53,000 60,000 78,500 72,800 5, 300 100,000 258,700 0 -31 500) 13,500) 7,200 220,200 133,000124,000 $360,200 $330,700 Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current 1iabilities Notes payable (long term) Total liabilities Equity Common stock, $5 par value Retained earnings Total liabilities and equity 34,000 43,500 16,800 5,600 65,900 69,000 134,900 6,900 4,300 45,200 39,000 84,200 238,000 169,000 38,000 26,800 $360,200 $330,700 IKIBAN INC. Income Statement For Year Ended June 30, 2017 Sales Cost of goods sold Gross profit Operating expenses $723,000 420,000 303,000 Prev 1 of 1 Next