[The following information applies to the questions displayed below.] 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 $95,500 64,000 71,000 116,500 9.400 260,900 135,000 95,000 83,800 6,400 280,700 144,000 (37,000) (19,000 $387,700 376,900 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 45,000 60,000 19,000 7,800 86,800 50,00080,000 8,000 5.400 58,400 108,400 166,800 260,000 180,000 19,30030,100 $387,700 376,900 Total liabilities and equity