2018 5 CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 Assets Cash $ 62,700 Accounts receivable, net 27,000 Inventory 56,600 Prepaid expenses 3,500 Total current assets 149,800 Furniture 70,500 Accum. depreciation-Furniture (10,900) Total assets $209,400 Liabilities and Equity Accounts payable $ 9,900 Wages payable 5,900 Income taxes payable 1,000 Total current liabilities 16,800 Notes payable (long-term) 20,700 Total liabilities 37,500 Equity Common stock, $5 par value 152, 200 Retained earnings 19,700 Total liabilities and equity $209,400 $ 15,700 33,300 62,500 2,900 114,400 82,200 (6,200). $190, 400 $ 14,000 3,300 1,800 19,100 47,800 66,900 es 123,000 500 $190,400 CRUZ, INC. Income Statement For Year Ended December 31, 2019 Sales $326,000 Cost of goods sold 209,800 Gross profit 116,200 Operating expenses Depreciation 25,100 expense Other expenses 59,500 84,600 Income before taxes 31,600 CRUX, INC. Income Statement For Year Ended December 31, 2019 Sales $326,000 Cost of goods sold 209.800 Gross profit 116,200 Operating expenses Depreciation $ 25,100 expense Other expenses 59,500 84,600 Income before taxes 31,600 Income taxes expense 11,500 Net income $ 20,100 1. How much cash is paid to acquire inventory during year 2019? 2. How much cash is paid for other expenses" during year 2019? Hint: Examine prepaid expenses and wages payable. 1. Cash paid for inventory Cash paid for other expenses 2