CRUZ, INC. Comparative Balance Sheets At December 31 Assets 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 Total liabilities and equity 2021 $94,800 41,000 85,800 227,0005,400175,0004,200 109,000119,000 (17.000)(9.000) $319,000$285.000 $15,000$21,000 \begin{tabular}{rrr} 9,000 & 5,000 \\ 1,400 & & 2,600 \\ \hline 25,400 & & 28,600 \\ 29,000 & & 69,000 \\ \hline 54,400 & & 97,600 \end{tabular} Required Use the Indirect method to prepare the operating activities section of Cruz's statement of cash flows. QS 12-7 Indirect: Computing cash from operations P2