2018 CRUX, INC. Comparative Balance Sheets December 31, 2019 2019 Assets Cash $ 89,000 Accounts receivable, net 38,200 Inventory 80,000 Prepaid expenses 4,900 Total current assets 212,100 Furniture 98.800 Accum. depreciation-Furniture (15,300) Total assets $295,600 Liabilities and Equity Accounts payable $ 13,900 Wages payable 8,200 Income taxes payable 1.400 Total current liabilities 23,500 Notes payable (long-term) 28,900 Total liabilities 52,400 Equity Common stock, $5 par value 215,000 Retained earnings 20, 200 $295,600 Total liabilities and equity $ 22,100 46,900 80,000 4.000 161,000 113,300 10.600) $265,700 $ 19,600 4,600 2,600 26,800 69,000 95,800 169,100 800 $265,700 CRUZ, INC. Income Statement For Year Ended December 31, 2019 Sales $454,900 Cost of goods sold 292,800 Gross profit 162,100 Operating expenses Depreciation $ 35,000 expense Other expenses 83,000 119,000 Income before taxes 44,100 Income taxes expense 16.000 Net income $ 28,100 netmathe neeme all the estar For Year Ended December 31, 2019 Sales $454,900 Cost of goods sold 292,800 Gross profit 162, 100 Operating expenses Depreciation $ 35,000 expense Other expenses 83,000 118,000 Income before taxes 44,100 Income taxes expense 16,000 Net income $ 28,100 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 Cash paid for inventory Cash paid for other expenses Cash paid for taxes Cash received from customers Cash received from dividends