At December 31 Assets CRUZ, INCORPORATED Comparative Balance Sheets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accumulated depreciation-Furniture 2021 2020 $ 64,400 27,800 $ 16,200 34,400 58,200 64,600 3,600 2,900 154,000 118,100 72,600 82,200 (11,300) $ 194,100 (6,200) Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable $ 215,300 $ 10,100 $ 14,300 6,100 3,400 1,000 1,800 Total current liabilities Notes payable (long-term) Total liabilities Equity Common stock, $5 par value Retained earnings 17,200 19,500 20,700 47,800 37,900 67,300 154,500 124,000 22,900 2,800 Total liabilities and equity $ 215,300 $ 194,100 CRUZ, INCORPORATED Income Statement For Year Ended December 31, 2021 Sales Cost of goods sold $ 332,400 213,900 Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes 118,500 60,700 25,600 32,200 Income taxes expense Net income 11,800 $ 20,400 Furniture costing $57,200 is sold at its book value in 2021. Acquisitions of furniture total $47,600 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. Beginning balance Sale of assets: Purchase of assets Ending balance Furniture Accumulated Depreciation Beginning balance 2021 depreciation Sale of assets Ending balance Cost Accumulated depreciation 0 Book value (Cash received) S 0