A comparative balance sheet and income statement is shown for Cruz, Inc.

CRUZ, INC. Comparative Balance Sheets December 31, 2017
		2017				2016
Assets
Cash	$	82,800			$	20,600
Accounts receivable, net		35,500				43,700
Inventory		74,300				82,000
Prepaid expenses		4,600				3,700
Total current assets		197,200				150,000
Furniture		92,800				104,800
Accum. depreciationFurniture		(14,400	)			(8,000	)
Total assets	$	275,600			$	246,800
Liabilities and Equity
Accounts payable	$	13,000			$	18,200
Wages payable		7,700				4,300
Income taxes payable		1,300				2,400
Total current liabilities		22,000				24,900
Notes payable (long-term)		26,800				63,700
Total liabilities		48,800				88,600
Equity
Common stock, $5 par value		198,800				155,300
Retained earnings		28,000				2,900
Total liabilities and equity	$	275,600			$	246,800

CRUZ, INC. Income Statement For Year Ended December 31, 2017
Sales				$	422,500
Cost of goods sold					271,900
Gross profit					150,600
Operating expenses
Depreciation expense	$	32,500
Other expenses		77,100			109,600
Income before taxes					41,000
Income taxes expense					14,900
Net income				$	26,100

QS 16-11 Indirect: Computing cash from operations LO P2

Required: Use the indirect method to prepare the cash provided or used from operating activities section only of the statement of cash flows for this company.