:41 CRUZ, INCORPORATED Comparative Balance Sheets At December 31 2021 2020 Assets Cash Accounts receivable, net Prepaid expenses $ 99,300 42,600 $ 24,900 52,800 Total assets Inventory Total current assets Furniture Accumulated depreciation-Furniture Liabilities and Equity Accounts payable Wages payable 89,100 99,200 5,600 4,500 236,600 181,400 113,000 127,500 (17,500) (9,600) $ 332,100 $ 299,300 $ 15,700 $ 22,000 9,400 5,000 Income taxes payable 1,500 2,800 Total current liabilities 26,600 29,800 Notes payable (long-term) Total liabilities 30,900 74,300 57,500 104,100 Equity Common stock, $5 par value 241,200 192,600 Retained earnings 33,400 2,600 Total liabilities and equity $ 332,100 $ 299,300 CRUZ, INCORPORATED Income Statement For Year Ended December 31, 2021 $ 512,300 Sales Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income 329,700 182,600 93,500 39,400 49,700 18,100 $ 31,600 Furniture costing $74,800 is sold at its book value in 2021. Acquisitions of furniture total $60,300 cash, on which no depreciation is necessary because it is acquired at year-end. Complete the general ledger accounts to calculate cash received from the sale of furniture. Furniture Beginning balance Ending balance Accumulated Depreciation Beginning balance 0