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Required information Exercise 12-11 Indirect: Preparing statement of cash flows LO P1, P2, P3, A1...

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Required information Exercise 12-11 Indirect: Preparing statement of cash flows LO P1, P2, P3, A1 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 20160 2017 2016 Asseta Cash $100,900 55,000 62,000 74,800 103,000 7,600 2700227,600 35,000126,000 Accounts receivable, net Inventory 81,500 Prepald expenses Total eurrent assets Equipment Accum. depreciation-Equipment 262 (32-500 114,500) Total assets 365,200 $339,100 Liabilities and Equity Accounts payable Wages payable $ 36,000 46,500 17,200 7,100 4,500 47,600 41,000 88,600 Ineone taxes payable Total current liabilities Notes payable (long term) Total liabilities 69,700 140,700 Equity Conmon stock, $5 par value Retained earninga Total liabilities and equity 242,000 171,000 34 60027 400 $365,200 339,100 IKIBAN INC. Incone Statenent r Year Ended June 30, 2017 2 3 4 5 8

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