Answer the following question and fill in the statement of cash flows. ...
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Accounting
Answer the following question and fill in the statement of cash flows.
The following financial statements and additional information are reported IKIBAN INC. Comparative Balance Sheets June 30, 2017 and 2016 2017 2016 Assets $106,300 46,000 53,000 89,500 5,800 194, 300 Cash Accounts receivable, net 68,000 65,800 4,600 244,700 Inventory Prepaid expenses Total current assets Equipment Accum. depreciation-Equipment Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) 126,000 117,000 (28,000) (10,000) $342,700 $301,300 S 27,000 33,000 15,400 4, 200 52,600 32,80062,00 68,800 114,600 6, 200 3,600 36,800 Total liabilities Equity Common stock, $5 par value Retained earnings Total liabilities and equity 224,000 162,e00 24,700 $342,700 $301,300 49,900 IKIBAN INC. Income Statement For Year Ended June 30, 2017 Sales Cost of goods sold Gross profit Operating expenses $688,80 413,00e 275,000 Depreciation expense Other expenses $60,600 69,000 Total operating expenses 129,60e 145,400 Other gains (losses)
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