3 5 points eBook The following information applies to the questions displayed below.) A comparative balance sheet and income statement is shown for Cruz, Incorporated. CRUZ, INCORPORATED Comparative Balance Sheets At December 31 2021 2020 Assets Cash $ 97,400 $ 24,400 Accounts receivable, net 41,800 Inventory 51,700 87,400 97, 100 Prepaid expenses 5,500 4,400 Total current assets 232, 100 177,600 Furniture 111,000 124,700 Accumulated depreciation-Furniture (17,200) (9,400) Total assets $ 325,900 $ 292,900 Liabilities and Equity Accounts payable $ 15,480 $ 21,500 Wages payable 9,200 4,900 Income taxes payable 1,500 2,700 Total current liabilities 26, 100 29, 100 Notes payable (long-term) 30,900 71,600 Total liabilities 57,800 100,700 Equity Common stock, $5 par value 232,600 185,600 Retained earnings 36,300 6,600 Total liabilities and equity $ 325,900 $ 292,900 Hint Print References 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 $ 501,300 322,600 178, 780 91,600 38,600 48,500 17,700 $ 39,800 Depreciation expense Income before taxes Income taxes expense Net income 38,600 48,500 17,700 $ 30,800 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 Ending Balance Required Required 2 > B 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 $ 501,300 322,600 178, 700 91,600 38,600 48,500 17,700 $ 30,800 ook 1. How much cash is received from sales to customers for year 20217 Assume all the sales were made on credit basis. 2. What is the net increase or decrease in the Cash account for year 2021? int Complete this question by entering your answers in the tabs below. int Required 1 Required 2 ences What is the net increase or decrease in the Cash account for year 2021?