A comparative balance sheet and income statement is shown for Cruz, Inc. 2016 CRUZ, INC. Comparative Balance Sheets December 31, 2017 2017 Assets Cash $ 82,800 Accounts receivable, net 35,500 Inventory 74,300 Prepaid expenses 4,600 Total current assets 197,200 Furniture 92.800 Accum. depreciation Furniture 14,400) Total assets. $275,600 Liabilities and Equity Accounts payable $ 13,000 Wages payable 7.700 Income taxes payable 1,300 Total current liabilities 22,000 Notes payable (long-term) 26,800 Total liabilities 48,800 Equity Common stock, $5 par value 198,800 Retained earnings 28,000 Total liabilities and equity $275,600 $ 20,600 43,700 82,000 3,700 150,000 104,800 (8,000) $ 246,800 $ 18, 200 4,300 2,400 24,900 63,700 88,600 155,300 2,900 $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 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 12-15B Direct: Computing operating cash outflows LO P5 1. How much cash is paid to acquire inventory during year 2017? Cash paid for inventory $ 82,800 2. How much cash is paid for other expenses" during year 2017? (Hint: Examine prepaid expenses and wages payable.) Cash paid for other expenses $ 12,300