A comparative balance sheet and income statement is shown for Cruz, Incorporated. CRUZ, INCORPORATED Comparative Balance Sheets At December 31 2021 2020 Assets Cash Accounts receivable, net $ 91, 100 39, 100 81,800 $ 22,900 48, 600 91, 300 Prepaid expenses Inventory Total current assets Furniture Accumulated depreciation-Furniture Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long-term) Total liabilities Equity Common stock, $5 par value Retained earnings Total liabilities and equity 5, 200 217, 200 105,000 (16,200) $ 306,000 $ 14,400 8,600 4, 100 166, 900 116, 200 (8,700) $ 274,400 $ 20, 200 4,500 2,500 1,400 24, 400 28, 900 27, 200 66,400 53, 300 93, 600 216, 400 172, 100 36, 300 8,700 $ 306,000 $ 274, 400 Sales Cost of goods sold CRUZ, INCORPORATED Income Statement For Year Ended December 31, 2021 Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income $469, 700 302,300 167, 400 85,900. 36, 200 45, 300 16,500 $ 28,800 QS 16-26B (Algo) Direct: Computing cash received from customers LO P5 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. Beginning balance Accounts Receivable 1. How much cash is received from sales to customers for year 2021? Assume all the sales were made on 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 What is the net increase or decrease in the Cash account for year 2021? < Required 1 Required 2 > QS 16-28B (Algo) Direct: Computing cash from operations LO P5 Use the above balance sheet and income statement to prepare the operating activities section by direct method. Assume all the sales were made on credit basis. Note: Amounts to be deducted should be indicated with a minus sign. Cash flows from operating activities