The following financial statements and additional information are reported. IKIBAN INCORPORATED At June 30 Assets Cash Accounts receivable, net Comparative Balance Sheets 2021 2020 $ 73,700 $ 67,000 99,500 86,800 74,000 121,000 6,700 10,000 266,700 272,000 147,000 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 (38,500) $ 375,200 $ 48,000 8,300 138,000 (20,500) $ 389,500 $ 64,500 19,600 5,700 8,400 62,000 92,500 34,600 83,000 96,600 175,500 266,000 12,600 183,000 31,000 $ 375,200 $ 389,500