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13 2018 555 ports Comparative Balance Sheets December 31, 2019 2019 Assets Cash $ 91,100 Accounts receivable, net 39,100 Inventory 51,800 Prepaid expenses 5,200 Total current assets 217,200 Furniture 105,000 Accun depreciation Furniture (16,200) Total assets 3306,000 Liabilities and Equity Accounts payable $ 14,400 wages payable 3,600 Income taxes payable Total current liabilities 24,400 Notes payable (long-tern) 28,900 Total liabilities 53,300 Equity Comon stock, $5 par value 216,400 Retained earnings 36 300 Total liabilities and equity 5306,000 $ 22,900 48,600 91,300 4,100 166,900 116,200 (8,700) $274,400 Book 1,400 Hint $ 20,200 4,500 2,500 27,200 66,400 93,600 Print 172,100 1,700 $274,400 References CRUZ, INC. Incone Statement For Year Ended December 31, 2019 Sales 5469,700 Cost of goods sold 302 300 Gross profit 167,400 Operating expenses Depreciation expenses 36,200 other expenses 05, 900 122, 100 Incone before taxes 45,300 Income taxes expense 16,500 Net Income $ 20,000 Use the above balance sheet and income statement to prepare the operating activities section by direct method Assume all the sales were made on credit basis. (Amounts to be deducted should be indicated with a minus sign.) Cash flows from operating activities