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16 CRUZ, INC. Income Statement For Year Ended December 31, 2017 Part 2 of 4 Sales Cost of goods sold Gross profit Operating expenses 488,000

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16 CRUZ, INC. Income Statement For Year Ended December 31, 2017 Part 2 of 4 Sales Cost of goods sold Gross profit Operating expenses 488,000 314,000 174,000 69 olnts Depreciation expense 7,600 ther expenses Income before taxes Income taxes expense Net income 89,100 126,700 47,300 17,300 s 30,000 eBook Hint 1. How much cash is received from sales to customers for year 2017? Accounts Receivable Print 51,000 Beg bal Sales on account Cash collections from customers ferences 51,000 End bal

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