The following financial statements and additional information are reported. IKIBAN INC. Comparative Balance Sheets June 30, 2015 and 2014 2014 2015 Assets 91,500 51,600 Cash 69,300 Accounts receivable, net 51,400 96,600 66,500 Inventory Prepaid expenses 5100 5700 232,400 205,300 Total current assets Equipment 133,500 118,000 (28,800) (10,500) Accum. depreciation-Equipment 337.100 312,800 Total assets Liabilities and Equity 26,700 32,400 Accounts payable Wages payable 7100 16,500 Income taxes payable 2,700 4,000 36,500 52,900 Total current liabilities 44,000 70,000 Notes payable (long term) Total liabilities 80,500 122,900 Equity Common stock, $5 par value 182,000 231,000 25,600 7900 Retained earnings 337100 312,800 Total liabilities and equity