Assets CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 2018 Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accum. depreciation-Furniture Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long-term)) Total liabilities Equity Common stock, $5 par value Retained earnings $ 85,600 36,800 $ 21,300 45,200 77,100 84,900 4,700 3,900 204,200 155,300 94,700 110,500 (14,700) (8,400) $284,200 $257,400 $ 13,400 $ 19,000 8,000 4,500 1,400 2,500 22,800 26,000 28,900 66,400 51,700 92,400 204,000 162,300 28,500 2,700 Total liabilities and equity $284,200 $257,400 CRUZ, INC. Income Statement For Year Ended December 31, 2019 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense Other expenses Income before taxes $440,700 283,700 157,000 $33,900 80,400 114,300 42,700 Income taxes expense Net income 15,500 $ 27,200 Furniture costing $64,900 is sold at its book value in 2019. Acquisitions of furniture total $49,100 cash, on which no depreciation is necessary because it is acquired at year-end. Complete the general ledger accounts to calculate cash received from the sale of furniture Complete the general ledger accounts to calculate cash received from the sale of furniture.