2018 CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 Assets Cash $ 64,400 Accounts receivable, net 27,800 Inventory 58,200 Prepaid expenses 3,600 Total current assets 154,000 Furniture 72,600 Accum. depreciation,Furniture (11,300) Total assets $215,300 Liabilities and Equity Accounts payable $ 10,100 Wages payable 6,100 Income taxes payable 1,000 Total current liabilities 17,200 Notes payable (long-term) 20,700 Total liabilities 37,900 Equity Common stock, $5 par value 154,500 Retained earnings 22,900 Total liabilities and equity $215,300 $ 16,200 34,400 64,600 2,900 118,100 82,200 (6,200) $ 194,100 $ 14,300 3,400 1,800 19,500 47,800 67,300 124,000 2,800 $194,100 CRUZ, INC. Income Statement For Year Ended December 31, 2019 Sales $332,400 Cost of goods sold 213,900 Gross profit 118,500 Operating expenses Depreciation $ 25,600 expense Other expenses 60,700 86,300 Income before taxes 32,200 Income taxes expense 11,800 Net income $ 20,400 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. $ 56,600 Cash paid for inventory Cash paid for other expenses 2