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CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 2018 Assets Cash $ 85,600 $ 21,300 Accounts receivable, net 36,800 45,200 Inventory 77,100 84,900 Prepaid

CRUZ, INC. Comparative Balance Sheets December 31, 2019
2019 2018
Assets
Cash $ 85,600 $ 21,300
Accounts receivable, net 36,800 45,200
Inventory 77,100 84,900
Prepaid expenses 4,700 3,900
Total current assets 204,200 155,300
Furniture 94,700 110,500
Accum. depreciationFurniture (14,700 ) (8,400 )
Total assets $ 284,200 $ 257,400
Liabilities and Equity
Accounts payable $ 13,400 $ 19,000
Wages payable 8,000 4,500
Income taxes payable 1,400 2,500
Total current liabilities 22,800 26,000
Notes payable (long-term) 28,900 66,400
Total liabilities 51,700 92,400
Equity
Common stock, $5 par value 204,000 162,300
Retained earnings 28,500 2,700
Total liabilities and equity $ 284,200 $ 257,400

CRUZ, INC. Income Statement For Year Ended December 31, 2019
Sales $ 440,700
Cost of goods sold 283,700
Gross profit 157,000
Operating expenses
Depreciation expense $ 33,900
Other expenses 80,400 114,300
Income before taxes 42,700
Income taxes expense 15,500
Net income $ 27,200

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.

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