The following financial statements and additional information are reported. 2018 4,800 228,700 IKIBAN INC. Comparative Balance Sheets June 30, 2019 and 2018 2019 Assets Cash $ 85,100 Accounts receivable, net 71,000 Inventory 67,800 Prepaid expenses Total current assets Equipment 128,000 Accum. depreciation-Equipment (29,000) Total assets $327,700 Liabilities and Equity Accounts payable $ 29,000 Wages payable 6,400 Income taxes payable 3,800 Total current liabilities Notes payable (long term) 39,200 Total liabilities 30,800 70,000 Equity Common stock, $5 par value 228,000 Retained earnings Total liabilities and equity -_29,700 $327,700 $ 48,000 55,000 92,500 6,200 201,700 119,000 (11,000) $309,700 $ 36,000 15,800 4,600 56,400 64,000 120,400 164,000 25,300 $309,700 $698,000 IKIBAN INC. Income Statement For Year Ended June 30, 2019 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense $62,600 Other expenses 71,000 Total operating expenses 133,600 149,400 Other gains (losses) Gain on sale of equipment Income before taxes Income taxes expense Net income 2,400 151,800 44,290 $107,510 Prey TLY SUPPLY TOUR SHOPPING a. A $33.200 note payable is retired at its $33.200 carrying book value in exchange for cash b. The only changes affecting retained amnings are not income and cash dividends paid New equipment is acquired for $61600 cash d. Received cash for the sale of equipment that had cost $52600 yielding a $2.400 in Prepaid Expenses and Wages Payable relate to Other Expenses on the income statement Lalpurchases and sales of inventory are on credit Using the direct method prepare the statement of cash flows for the year ended June 30, 2019. Amounts to be deducted should be indicated with a ns) GRANING For Year Ended June 30, 2019 Cashflows for investing active Prey 1 oft Next Q Search or type URL a WERTY As FAN