A comparative balance sheet and income statement is shown for Cruz, Inc. 2017 CRUZ, INC. Comparative Balance Sheets December 31, 2018 2018 Assets Cash $ 66,100 Accounts receivable, net 28,500 Inventory 59,700 Prepaid expenses 3,700 Total current assets 158,000 Furniture 74,600 Accum. depreciation-Furniture (11,600) Total assets $ 221,000 Liabilities and Equity Accounts payable $ 10,400 Wages payable 6,300 Income taxes payable 1,000 Total current liabilities 17,700 Notes payable (long-term) 20,700 Total liabilities 38,400 Equity Common stock, $5 par value 159,500 Retained earnings 23,100 Total liabilities and equity $221,000 $ 16, 600 35, 200 66,100 3,000 120,900 85,000 (6,400) $199,500 $ 14,700 3,500 1,900 20,100 50,500 70,600 125,000 3,900 $199,500 CRUZ, INC. Income Statement For Year Ended December 31, 2018 Sales $341,600 Cost of goods sold 219,800 Gross profit 121,800 Operating expenses Depreciation expense $26,300 Other expenses 62,400 88,700 Income before taxes 33,100 Income taxes expense 12,100 Net income $ 21,000 Furniture costing $58,400 is sold at its book value in 2018. Acquisitions of furniture total $48,000 cash, on which no depreciation is necessary because it is acquired at year-end. Complete the T-accounts below to determine the cash received from the sale of furniture. Furniture Beg. bal. End. bal. 0 Accumulated Depreciation Beg. bal. End. bal. 0 Cash received from sale of furniture Cost Accumulated depreciation Book value (Cash received) $ 0