CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 2018 k $ 62,800 27,000 56,600 3,500 149,900 70,500 (10,900) $209,500 + 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 $ 15,700 33,300 62,500 2,900 114,400 82,200 (6,200) $190,400 nt ances $ 9,900 5,900 1,000 16,800 20,700 37,500 $ 14,000 3,300 1,800 19,100 47,800 66,900 150,000 22,000 $209,500 121,000 2,500 $190,400 CRUZ, INC. Income Statement For Year Ended December 31, 2019 Sales $326,000 Cost of goods sold 209,800 Gross profit 116,200 Operating expenses Depreciation expenses 25,100 Other expenses 59,500 84,600 Income before taxes 31,600 Income taxes expense 11. See Het incon $ 20,100 1. How much cash is paid to acquire inventory during year 2019? 2. How much cash is paid for other expenses during year 2019? Hint Examine prepaid expenses and wages payable. 1 Cash paid for inventory Cash paid for other expenses 2