At December 31 Assets CRUZ, INCORPORATED Comparative Balance Sheets Cash Accounts receivable, net Prepaid expenses Inventory Total current assets Furniture Accumulated depreciation-Furniture Total assets Liabilities and Equity Accounts payable Wages payable 35,500 74,300 2021 $ 82,800 2020 $ 20,600 43,700 82,000 4,600 3,700 197,200 150,000 92,800 (14,400) $ 275,600 $ 246,800 104,800 (8,000) $ 13,000 7,700 $ 18,200 4,300 Income taxes payable 1,300 2,400 Total current liabilities Notes payable (long-term) Total liabilities Equity Common stock, $5 par value Retained earnings 22,000 24,900 26,800 63,700 48,800 88,600 198,800 155,300 28,000 2,900 Total liabilities and equity $ 275,600 $ 246,800 CRUZ, INCORPORATED Income Statement For Year Ended December 31, 2021 Sales Cost of goods sold $ 422,500 271,900 150,600 Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income 77,100 32,500 41,000 14,900 $ 26,100 1. How much cash is received from sales to customers for year 2021? Assume all the sales were made on credit basis. 2. What is the net increase or decrease in the Cash account for year 2021? Complete this question by entering your answers in the tabs below. Required 1 Required 2 How much cash is received from sales to customers for year 2021? Assume all the sales were made on credit basis. Accounts Receivable Beginning balance Accounts written off Accounts recovered 0 Accounts written off < Required 1 Required 2 > Cash collections from customers Sales on account Required 1 Required 2 What is the net increase or decrease in the Cash account for year 2021? Net increase in cash