A comparative balance sheet and income statement is shown for Cruz, Inc. 2016 CRUZ, INC. Comparative Balance Sheets December 31, 2017 2017 Assets Cash $ 64,300 Accounts receivable, net 27,600 Inventory 57,700 Prepaid expenses 3,600 Total current assets 153,200 Furniture 72,600 Accum. depreciation-Furniture (11,200) Total assets $214,600 Liabilities and Equity Accounts payable $ 10,100 Wages payable 6,000 Income taxes payable 1,000 Total current liabilities 17,100 Notes payable (long-term) 20,600 Total liabilities 37,700 Equity Common stock, $5 par value 154,700 Retained earnings 22,200 Total liabilities and equity $214,600 $ 16,100 34,100 64,000 2,900 117,100 82,200 (6,200) $193, 100 $ 14, 200 3,300 1,800 19,300 47,700 67,000 123, 700 2,400 $193, 100 CRUZ, INC. Income Statement For Year Ended December 31, 2017 Sales $330, 500 Cost of goods sold 212, 700 Gross profit 117,800 Operating expenses Depreciation expense $25,400 Other evronene 60.300 85.700