2010 $ 22,00 48. 91,30 4100 166,90 116 200 (870) $274, CRUZ INCORPORATED Comparat ce Sheet At December 2021 Assets Cash 100 Accounts receivable net . Inventory . Prepaid expenses 137200 Total current assets 217200 Furniture 305,000 Accumulated depreciation Furniture (16,200 Total asset $ 306,00 Liabilities and Equity Accounts payable 5 14,00 Nages payable 600 Income taxes payable 1,00 Total current abilities 24,400 Notes payable (long-ter) 28.9 Total liabilities 53,388 Equity Common stock $5 par value 216,00 Retained earnings 36,30 Total liabilities and equity $ 306,800 $ 2,200 4. 21 See 27.220 56,40 93, see 172,100 8.78 3 274,40 CRUZ, INCORPORATED Income Statement For Year Ended December 31, 2021 Sales Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes experts Net income 5469.7 3823 267, 85, 35,2 45, 155 $ 26, QS 12-28B (Algo) Direct: Computing cash from operations LO P5 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 0 QS 12-16 (Algo) Computing cash flows from financing LO P3 Cash received from long-term notes payable Purchase of investments Cash dividends paid Interest paid $ 73,000 18,300 58,600 29,300 Compute cash flows from financing activities using the above company information. (Am a minus slgn.) Answer is complete but not entirely correct. Financing Activities Cash received from long-term notes payable Cash dividends paid Depreciation expense Cash provided by investing activities S 73,000 (58,600) X (29,300) S (14,900)