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 $ 96,700 62,000 69,000 113,500 9,000 253,500 133,000 (36,000) (18,000 $382,700 $368,500 92,000 81,800 6,200 276,700 142,000 Liabilities and Equity Accounts payable Wages payable Income taxes payable Total currentliabilities Notes payable (long term) Total liabilities Equity Common stock, $5 par value Retained earnings Total 1iabilities and equity $ 43,000 7,800 5,200 56,000 48,000 104,000 57,000 18,600 7,400 83,000 78,000 161,000 178,000 29,500 $382,700 $368,500 256,000 22,700