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 2021 $ 90,700 38,900 2020 $ 22,700 48,100 81,300 90,300 5,100 4,100 216,000 165,200 102,900 116,200 (15,900) (8,800) $ 303,000 $ 272,600 Income taxes payable Total current liabilities Notes payable (long-term) Total liabilities Equity Common stock, $5 par value Retained earnings $ 14,300 8,500 $ 20,000 4,600 1,400 2,500 24,200 27,100 28,800 66,300 53,000 93,400 215,100, 34,900 171,900 7,300 Total liabilities and equity $ 303,000 $ 272,600 CRUZ, INCORPORATED Income Statement For Year Ended December 31, 2021 Sales Cost of goods sold $ 466,600 300,300 166,300 Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income Required: 85,200 35,900 45,200 16,500 $ 28,700 Use the indirect method to prepare the operating activities section of Cruz's statement of cash flows. Note: Amounts to be deducted should be indicated with a minus sign.