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 Inventory Prepaid expenses 34 Total current assets Furniture Accumulated depreciation-Furniture Total assets Liabilities and Equity Accounts payable Wages payable 2021 2020 $ 64,300 27,600 $ 16,100 57,700 34,100 64,000 3,600 2,900 153,200 117,100 72,600 (11,200) $ 214,600 $ 10,100 6,000 82,200 (6,200) $ 193,100 $ 14,200 3,300 Income taxes payable 1,000 1,800 Total current liabilities Notes payable (long-term) Total liabilities Equity Common stock, $5 par value Retained earnings 17,100 19,300 20,600 47,700 37,700 67,000 154,700 22,200 123,700 2,400 Total liabilities and equity $ 214,600 $ 193,100 CRUZ, INCORPORATED Income Statement Sales Cost of goods sold For Year Ended December 31, 2021 $ 330,500 212,700 117,800 Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income. 60,300 25,400 32,100 11,700 $ 20,400