Refer to the data in QS 16-7.
1. How much cash is received from sales to customers for year 2021?
2. What is the net increase or decrease in the Cash account for year 2021?

Data From QS 16-7

Required

Use the indirect method to prepare the operating activities section of Cruz’s statement of cash flows.

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CRUZ, INC. Comparative Balance Sheets At December 31 2021 2020 Assets Cash ... $ 94,800 $ 24,000 Accounts receivable, net 41,000 51,000 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 .... Total assets.... (17,000) (9,000) $319,000 $285,000 CRUZ, INC. Income Statement Liabilities and Equity Accounts payable.... Wages payable... For Year Ended December 31, 2021 $ 15,000 $ 21,000 9,000 5,000 Sales ..... $488,000 Income taxes payable 1,400 2,600 Cost of goods sold .. Gross profit..... 314,000 Total current liabilities 25,400 28,600 174,000 Notes payable (long-term)........ Total liabilities.... 29,000 69,000 Operating expenses (excluding depreciation) 54,400 97,600 89,100 ..... Depreciation expense 37,600 Equity ... ... Common stock, $5 par value....... Retained earnings ... Total liabilities and equity.... Income before taxes.. 47,300 229,000 179,000 Income taxes expense.. 17,300 35,600 8,400 Net income .. $ 30,000 $319,000 $285,000