The following financial statements and additional information are reported. IKIBAN INC. Comparative Balance Sheets June 30, 2917 and 2016 2017 201 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accum. depreciation-Equipment s 87,500 44,e00 51,000 86,500 5,400 186,900 124,000 115,000 9, 000) $317,700 $292,900 65,000 63, 800 4,400 220,700 27,000 Total assets Liabilities and Equity Accounts payable 5 25,000 30,000 15,000 3,800 48,800 60,000 64,400 108,800 Wages payable Income taxes payable Total current liabilities 6,000 3.400 34,400 3e,000 Notes payable (long term) Total 1iabilities Equity Common stock, $5 par value 220,000 160,000 33 389 24,100 carnings Total liabilities and equity 317,700 $292,900