A comparative balance sheet and income statement is shown for Cruz, Incorporated. CRUZ, INCORPORATED Comparative Balance Sheets At December 31 Assets Cash Accounts receivable, net 2021 2020 $ 64,300 27,600 $ 16,100. 34,100 Inventory Prepaid expenses 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 57,700 64,000 3,600 2,900 153,200 117,100 72,600 82,200 (11,200) (6,200) $214,600 $193,100 $ 10,100 $14,200 6,000 3,300 1,000 1,800 17,100 19,300 20,600 47,700 37,700 67,000 154,700 123,700 22,200 2,400 Total liabilities and equity $ 214,600 $193,100 CRUZ, INCORPORATED Income Statement Sales For Year Ended December 31, 2021 Cost of goods sold $ 330,500 212,700 Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income 117,800 60,300 25,400 32,100 11,700 $ 20,400 1. How much cash is paid to acquire inventory during year 2021? 2. How much cash is paid for operating expenses (excluding depreciation) during year 2021? Hint: Examine prepaid expenses and wages payable. 1. Cash paid for inventory 2. Cash paid for operating expenses