Use the indirect method to prepare the cash provided or used from operating activities section only of the statement of cash flows for this company.

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CRUZ, INC. Comparative Balance Sheets December 31, 2018 2018 2017 Assets $ 24,000 $ 94,800 Cash.. 51,000 Accounts receivable, net 41,000 Inventory..... 85,800 95,800 Prepaid expenses. 5,400 4,200 Total current assets 227,000 175,000 Furniture .... 109,000 119,000 Accum. depreciation-Furniture (17,000) $319,000 (9,000) $285,000 Total assets... Liabilities and Equity $ 15,000 $ 21,000 Accounts payable.. Wages payable.... 5,000 9,000 Income taxes payable.. Total current liabilities . Notes payable (long-term). Total liabilities... 2.600 1.400 25,400 28,600 29,000 69,000 54,400 97,600 Equity Common stock, $5 par value. Retained eamings..... Total liabilities and equity.. 229,000 179,000 35,600 $319,000 8,400 $285,000 CRUZ, INC. Income Statement For Year Ended Decomber 31, 2018 Sales ... $488,000 Cost of goods sold . 314,000 Gross profit... 174,000 Operating expenses Depreciation expense $37,600 Other expenses.. 89,100 126,700 Income before taxes.. 47,300 Income taxes expense 17,300 Net income ... $ 30,000