2020 CRUZ, INCORPORATED Comparative Balance Sheets At December 31 2021 Assets Cash $ 90,700 Accounts receivable, net 38,900 Inventory 81,300 Prepaid expenses 5,100 Total current assets 216,000 Furniture 102,900 Accumulated depreciation-Furniture (15,900) Total assets $ 303,000 Liabilities and Equity Accounts payable $ 14,300 Wages payable 8,500 Income taxes payable 1,400 Total current liabilities 24,200 Notes payable (long-term) 28,800 Total liabilities 53,000 Equity Common stock, $5 par value 215, 100 Retained earnings 34,900 Total liabilities and equity $ 303,000 $ 22,700 48,100 90,300 4,100 165,200 116,200 (8,800) $ 272,600 $ 20,000 4,600 2,500 27,100 66,300 93,400 171,900 7,300 $ 272,600 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 expense Net income $ 466,600 300, 300 166,300 85,200 35,900 45,200 16,500 $ 28,700 1. How much cash is received from sales to customers for year 2021? Assume all the sales were made on credit basis. 2. What is the net increase or decrease in the Cash account for year 2021? Complete this question by entering your answers in the tabs below. Required 1 Required 2 How much cash is received from sales to customers for year 2021? Assume all the sales were made on credit basis Accounts Receivable Beginning balance 48.100 Sales on account Cash collections from customers Ending Balance 48,100 Required 1 Required 2 What is the net increase or decrease in the Cash account for year 2021?