The following financial statements and additional information are reported.

The following financial statements and additional information are reported. IKIBAN INC. Comparative Balance Sheets June 30, 2015 and 2014 2014 $ 87,500 44.000 Accounts receivable, net Prepaid expenses Total current assets Accum. depreciation-Equipment Total assets 65,000 63,800 4,400 5,400 220,700 124,000 (27000) $ 317,700 292,900 Liabilities and Equity Accounts payable Wages payable Income taxes payable $ 25,000 $ 30,000 3,800 48,800 6,000 3,400 Total current liabilities Notes payable (long term) 30,000 64,400 220,000 Total liabilities 108,800 Common stock, $5 par value Retained earnings 24,100 Total liabilities and equity s 317700 $292,900o