The following financial statements and additional information are reported. KIBAN INC. Comparative Balance Sheets June 30, 2015 and 2014 2015 2014 Assets 96,900 59,900 Cash 51,200 Accounts receivable, net 69.700 96,700 Inventory 66100 Prepaid expenses 5100 5,500 Total current assets 237,800 213,300 120,000 Equipment 135,600 (28,700) (10,600) Accum. depreciation-Equipment 344700 322700 Total assets Liabilities and Equity 26,200 32,300 Accounts payable 7,500 Wages payable 16,600 2,300 Income taxes payable 4100 Total current liabilities 53,000 36,000 54,000 Notes payable (long term) 78,000 90,000 Total liabilities 131.000 Equity Common stock, $5 par value 230,000 184,000 Retained earnings 24,700 7700 344,700 322,700 Total liabilities and equity