The following financial statements and additional information are reported. At June 30 Assets Cash Accounts receivable, net IKIBAN INCORPORATED Comparative Balance Sheets 2021 2020 $ 87,500 $ 44,000 65,000 51,000 63,800 86,500 4,400 5,400 220,700 186,900 124,000 115,000 (27,000) $ 317,700 $ 25,000 6,000 (9,000) $ 292,900 $ 30,000 15,000 3,800 48,800 Inventory Prepaid expenses Total current assets Equipment Accumulated 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 3,400 34,400 30,000 60,000 64,400 108,800 220,000 160,000 33,300 24,100 $ 317,700 $ 292,900