$\backslash$table$[[$At June $30,2021,2020],[,,],[$Assets$,,],[$Cash$,$$ $82,700,$$ $52,000],[$Accounts receivable, net,$77,000,59,000],[$Inventory$,71,800,98,500],[$Prepaid expenses,$5,200,7,000],[$Total current assets,$236,700,216,500],[$Equipment$,132,000,123,000],[$Accumulated depreciation$-$Equipment,$(31,000),(13,000)],[$Total assets,$ $337,700,$$ $326,500],[$Liabilities and Equity,,$],[$Accounts payable,$ $33,000,$$ $42,000],[$Wages payable,$6,800,16,600],[$Income taxes payable,$4,200,5,400],[$Total current liabilities,$44,000,64,000],[$Notes payable $($long term$),31,600,68,000],[$Total liabilities,$75,600,132,000],[$Equity$,,],[$Common stock, $$5$ par value,$236,000,168,000],[$Retained earnings,$26,100,26,500],[$Total liabilities and equity,$ $337,700,$$ $326,500]]$

$\backslash$table$[[$IKIBAN INCORPORATED Income Statement For Year Ended June $30,2021],[$Sales$,$$ $718,000],[$Cost of goods sold,$419,000],[$Gross profit,$299,000],[$Operating expenses $($excluding depreciation$),75,000],[$Depreciation expense,$66,600],[,157,400],[$Other gains $($losses$),],[$Gain on sale of equipment,$2,800],[$Income before taxes,$160,200],[$Income taxes expense,$44,690],[$Net income,$ $115,510]]$

Additional Information

a$.$ A $$36,400$ note payable is retired at its $$36,400$ carrying $($book$)$ value in exchange for cash.

b$.$ The only changes affecting retained earnings are net income and cash dividends paid.

c$.$ New equipment is acquired for $$65,600$ cash.

d$.$ Received cash for the sale of equipment that had cost $$56,600,$ yielding a $$2,800$ gain.

e$.$ Prepaid Expenses and Wages Payable relate to Operating Expenses on the income statement.

f$.$ All purchases and sales of inventory are on credit.

$\backslash$table$[[$IKIBAN$,$ INCORPORATED$],[$Statement of Cash Flows $($Direct Method$)],[$For Year Ended June $30,2021],[$Cash flows from operating activities,,$],[$Cash received from customers,$ $700,000,],[$Cash paid for inventory,$(401,300),],[$Cash paid for operating expenses,,$],[$Cash paid for income taxes,$(45,890),],[,,],[$Net cash provided by operating activities,,$ $252,810],[$Cash flows from investing activities,,$],[$Cash received from sale of equipment,,$],[$Cash paid for equipment,$65,600,],[,,],[$Net cash used in investing activities,,$65,600],[$Cash flows from financing activities,,$],[$Cash paid to retire notes,,$]]$

$\backslash$table$[[,,],[$Net cash provided by operating activities,,$ $252,810],[$Cash flows from investing activities,,$],[$Cash received from sale of equipment,,$],[$Cash paid for equipment,$65,600,],[,,],[$Net cash used in investing activities,,$65,600],[$Cash flows from financing activities,,$],[$Cash paid to retire notes,,$],[$Cash received from stock issuance,,$],[$Cash paid for dividends,,$],[,,],[$Net cash used in financing activities,,$0],[$Net increase $($decrease$)$ in cash,,$ $318,410],[$Cash balance at prior year$-$end,,$],[$Cash balance at current year$-$end,,$ $318,410]]$