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 $ 97,300 61,000 68,000 112,000 6,1008800 249,800 132,000 90,500 80,800 274,700 141,000 (35,500) ( 17,500) $380,200 $364,300 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 42,000 7,700 5,100 54,800 55,500 18,400 7,200 81,100 77,000 158,100 101,800 177,000 29,200 $380,200 $364,300 254,000 24,400 Total liabilities and equity