Savod Required informetion Exercise 12-11 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. ints IKIBAN INC Comparative Balance Sheets June 30, 2017 and 2016 015806 2017 2016 Assets 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 1iabilities Equity Common stock, $5 par value Retained earnings Total liabilities and equity $ 77,900 $ 60,000 89,800 67,889 79,800 110,500 8, 600 252,700 246,100 148,000 131,e00 17,000 eBook 6,000 References 35,000 357,790 36.1 $ 41,000 54,000 7,60018,200 7,800 53,600 79,200 76,000 99,660155,200 5,00 46,000 76 252,000 176,000 100 28 990 $357,700 %360, 10e IKIBAN INC Incone Statement For Year Ended June 30, 2017 Sales Cost of goods sold Gross profit Operating expenses $758,000 427,006 331,000 Depreciation expense $74,609