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A comparative balance sheet and income statement is shown for Cruz, Incorporated Requlred Information [The following information applies to the questions displayed below.] A comparative

image text in transcribed A comparative balance sheet and income statement is shown for Cruz, Incorporated

Requlred Information [The following information applies to the questions displayed below.] A comparative balance sheet and income statement is shown for Cruz, Incorporated. 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. Answer is complete but not entirely correct

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