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CRUZ, INC. Comparative Balance Sheets December 31, 2013 2013 2012 Assets Cash $ 94,800 $ 24,000 Accounts receivable, net 41,000 51,000 Inventory 85,800 95,800 Prepaid

CRUZ, INC. Comparative Balance Sheets December 31, 2013
2013 2012
Assets
Cash $ 94,800 $ 24,000
Accounts receivable, net 41,000 51,000
Inventory 85,800 95,800
Prepaid expenses 5,400 4,200
Furniture 109,000 119,000
Accum. depreciation-Furniture (17,000 ) (9,000 )
Total assets $ 319,000 $ 285,000
Liabilities and Equity
Accounts payable $ 15,000 $ 21,000
Wages payable 9,000 5,000
Income taxes payable 1,400 2,600
Notes payable (long-term) 29,000 69,000
Common stock, $5 par value 229,000 179,000
Retained earnings 35,600 8,400
Total liabilities and equity $ 319,000 $ 285,000

CRUZ, INC. Income Statement For Year Ended December 31, 2013
Sales $ 488,000
Cost of goods sold 314,000
Gross profit 174,000
Operating expenses
Depreciation expense $ 37,600
Other expenses 89,100 126,700
Income before taxes 47,300
Income taxes expense 17,300
Net income $ 30,000

Use the above balance sheet and income statement to prepare the cash provided (used) from operating activities section by direct method. (Amounts to be deducted should be indicated with a minus sign.)

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Cash flows from operating activities Payments for merchandise inventory498,000X Payments for other expense Payments for taxes Receipt from sales to customers 316,000X (86,300)X 101,700X (18,500)X 810.9 Net cash provided by operating activities $ 00

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