The following financial statements and additional information are reported. KIBAN INC. Comparative Balance Sheets June 30, 2015 and 2014 2015 2014 Assets 109,300 71.100 Cash Accounts receivable, net 69100 51,900 66,700 Inventory 96,600 Prepaid expenses 4700 6.200 249,800 225.800 Total current assets 124,900 113,000 Equipment (10,200) Accum. depreciation-Equipment (28,700) $346,000 $328,600 Total assets Liabilities and Equity 26,500 32,800 Accounts payable Wages payable 16,900 7.200 Income taxes payable 2,700 4,000 53,700 Total current liabilities 36,400 52,000 78,000 Notes payable (long term) 131,700 Total liabilities 88,400 Equity Common stock, $5 par value 233,000 189,000 24,600 7,900 Retained earnings $346,000 $328,600 Total liabilities and equity