12.7 what is the prepaid expense increase?

or incorrect for the work you have completed so far. It does not indica Help Save 3 3 QS 12-7 Indirect: Computing cash from operations LO P2 1.07 Doints A comparative balance sheet and income statement is shown for Cruz, Inc. CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 2018 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accum. depreciation-Furniture Total assets Liabilities and Equity Accounts payable Wages payable $ 99,000 42,800 89,600 5,600 237,000 113,000 (17,600) $332,400 $ 25,000 53,100 99,700 4,400 182,200 124,700 (9,400) $297,500 $ 15,600 9,400 $ 21,900 5,200 : This shows what is correct or incorrect for the work you have completed so far. It does n Help CRUZ, INC. Income Statement For Year Ended December 31, 2019 Sales $509,400 Cost of goods sold 327,800 Gross profit 181,600 Operating expenses Depreciation expense $39,200 Other expenses 92,900 132,100 Income before taxes 49,500 Income taxes expense 18,100 Net income $ 31,400 Required: Use the indirect method to prepare the operating activities section of the statement of cashf deducted should be indicated with a minus sign.) have completed so far. It does not in Answer is compiere but not endrery correct. Cash flows from operating activities Net income $ 31.400 $ 39,200 Adjustments to reconcile net income to operating cash flow Income statement items not affecting cash Depreciation Changes in current operating assets and liabilities Accounts receivable decrease Inventory decrease Prepaid expense increase Accounts payable decrease Wages payable increase Income taxes payable decrease 10,300 10,100 1,200 (6,300) 4,200 (1,200) 57,500 Net cash provided by operating activities 88.900 shows what is correct or incorrect for the work you have completed so far. It does not Saved 3 Help QS 12-7 Indirect: Computing cash from operations LO P2 1.07 points A comparative balance sheet and income statement is shown for Cruz, Inc. CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 2018 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accum. depreciation-Furniture Total assets Liabilities and Equity Accounts payable $ 99,000 $ 25,000 42,800 53,100 89,600 99,700 5,600 4,400 237,000 182,200 113,000 124,700 (17,600) (9,400) $332,400 $297,500 Wages payable $ 15,600 9,400 $ 21,900 5,200