A comparative balance sheet and Income statement is shown for Cruz, Incorporated. 2020 CRUZ, INCORPORATED Comparative Balance sheets At December 31 2021 Assets Cash $ 64,400 Accounts receivable, net 27, see Inventory 58,200 Prepaid expenses 3,6ee Total current assets 154, eee Furniture 72,620 Accumulated depreciation-Furniture (11,300) Total assets $ 215,300 Liabilities and Equity Accounts payable $ 10, 10e Wages payable 6,1ee Income taxes payable 1, eee Total current liabilities 17,200 Notes payable (long-term) 20,7ee Total liabilities 37,988 Equity Common stock, $5 par value 154,500 Retained earnings 22,9ee Total liabilities and equity $ 215,300 $ 16,200 34,400 64,600 2,900 118,100 82,200 (6,200) $ 194,100 $ 14,300 3,400 1,800 19,500 47, see 67,300 124,000 2,800 $ 194,100 CRUZ, INCORPORATED Income Statement For Year Ended December 31, 2021 Sales Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income $ 332,400 213,988 118,5ee 60, 700 25,600 32,200 11,888 $ 20,400 QS 12-28B (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. (Amounts to be deducted should be indicated with a minus slgn.) Cash flows from operating activities $