The following financial statements and additional information are reported. At June 30 Assets Cash Accounts receivable, net IKIBAN INCORPORATED Comparative Balance Sheets 2021 2020 $ 76,700 $ 62,000 92,000 69,000 81,800 113,500 6,200 9,000 256,700 253,500 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 Sales Cost of goods sold Gross profit 142,000 (36,000) $362,700 $ 43,000 133,000 (18,000) $ 368,500 $ 57,000 18,600 7,400 7,800 5,200 56,000 83,000 33,600 78,000 89,600 161,000 256,000 178,000 17,100 29,500 $362,700 $368,500 IKIBAN INCORPORATED Income Statement For Year Ended June 30, 2021 $ 768,000 429,000 339,000 Prest 25 of 21