CRUZ, INC Comparative Balance Sheets December 31, 2017 2017 2016 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accum. depreciation-Furniture Total assets s 72,900 18,100 31,300 38,400 65, 600 72,100 3, 300 4,000 173, 800 131,900 80, 600 93, 500 (12,500) (7,100) $241,900 $218,300 Liabilities and Equity Accounts payable Wages payable $ 11,400 16,100 3,800 2,100 6, 800 1,200 Income taxes payable Total current liabilities Notes payable (long-term) Total 1iabilities 19, 400 2000 55, 800 77,800 24, 800 44,200 Equity Common stock, $5 par value Retained earnings Total liabilities and equity 170, 300 134, 800 27,4003: 100 5, 700 $241,900 $218, 300 Income Statement Sales Cost of goods sold Gross profit Operating expenses $373, 80o 240, 600 133, 200 Depreciation expense $28, 800 other expense:s Income before taxes Income taxes expense Not income 68, 300 97,100 36, 100 13,100 s 23,000 Chec QS 16-12 Computing cash from asset sales LO P3 Furniture costing $67,900 is sold at its book value in 2017. Acquisitions of furniture total $55,000 cash, on which no depreciation is necessary because it is acquired at year-end. What is the cash inflow related to the sale of furniture? Part 2 of .76 Furniture Beg. bal End. bal. Depreciation Beg. bal PEnd bel Type here to search