2 QS 16-12 Computing cash from asset sales LO P3 Part 2 of 3 Furniture costing $61,700 is sold at its book value in 2017. Acquisitions of furniture total $50,000 cash, on which no depreciation is necessary because it is acquired at year-end. What is the cash inflow related to the sale of furniture? 0 moints Furniture 82,200 Beg. bal. eBook End. bal. 82,200 Accumulated Depreciation Beg bal. End. bal. Cost Accumulated depreciation Book value (Cash received) 2 A comparative balance sheet and income statement is shown for Cruz, Inc. Part 2 of 3 2016 10 points CRUZ, INC. Comparative Balance Sheets December 31, 2017 2017 Assets Cash $ 63,600 Accounts receivable, net 27,400 Inventory 57,400 Prepaid expenses 3,500 Total current assets 151,900 Furniture 70,500 Accum. depreciation-Furniture (10,900) Total assets $211,500 Liabilities and Equity Accounts payable $ 10,000 Wages payable 6,000 Income taxes payable 1,000 Total current liabilities 17,000 Notes payable (long-term) 20,700 Total liabilities 37,700 Equity Common stock, $5 par value 153,600 Retained earnings 20,200 Total liabilities and equity $211,500 $ 15,900 33,700 63,300 2,900 115,800 82,200 (6,200) $191,800 eBook DO. $ 14,100 3,300 1,800 19,200 47,800 67,000 Hint 124,000 800 $191,800 CRUZ, INC. Income Statement For Year Ended December 31, 2017 Sales $328,400 Cost of goods sold 211,300 Gross profit 117, 100 Operating expenses Depreciation expense $25,300 Other expenses 60,000 85,300 Income before taxes 31,800 Income taxes expense 11,600 Net income $ 20,200 NA