CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 2018 $ 97,400 41,800 87,400 5,500 232,100 111,000 (17,200) $325,900 $ 24,400 51,700 97,100 4,400 177,600 124,700 (9,400) $292,900 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 $ 15,400 9,200 1,500 26,100 30,900 57,000 $ 21,500 4,900 2,700 29,100 71,600 100, 700 232,600 36,300 $325,900 185,600 6,600 $292,900 CRUZ, INC Income Statement Fon Year Ended December 31, 2019 Sales $501,300 Cost of goods sold 322,600 Gross profit 178,700 Operating expenses Depreciation expenses 38,600 Other expenses 91,600 130,200 Income before taxes 48,500 Income taxes expense 17,700 Net income $ 30,800 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 2. Cash paid for inventory Cash paid for other expenses