! Required information Exercise 12-12 (Algo) Indirect: Preparing statement of cash flows LO P2, P3, A1 [The following information applies to the questions displayed below.] The following financial statements and additional information are reported. Inventory Total current assets Equipment Accumulated depreciation-Equipment Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total liabilities Equity IKIBAN INCORPORATED Comparative Balance Sheets At June 30 2021 2020 Assets Cash Accounts receivable, net $ 100,900 81,500 $ 55,000 74,800 62,000 103,000 Prepaid expenses 5,500 7,600 262,700 227,600 135,000 (32,500) $ 365,200 $ 36,000 126,000 (14,500) $ 339,100 $ 46,500 7,100 17,200 4,500 6,000 47,600 69,700 41,000 71,000 88,600 140,700 Common stock, $5 par value 242,000 171,000 Retained earnings 34,600 27,400 Total liabilities and equity $ 365,200 $ 339,100