CRUZ, INC. Comparative Balance Sheets December 31, 2019
		2019				2018
Assets
Cash	$	75,900			$	18,900
Accounts receivable, net		32,600				40,100
Inventory		68,300				75,300
Prepaid expenses		4,200				3,500
Total current assets		181,000				137,800
Furniture		84,600				99,200
Accum. depreciationFurniture		(13,100	)			(7,500	)
Total assets	$	252,500			$	229,500
Liabilities and Equity
Accounts payable	$	11,900			$	16,900
Wages payable		7,100				4,000
Income taxes payable		1,200				2,200
Total current liabilities		20,200				23,100
Notes payable (long-term)		24,800				58,400
Total liabilities		45,000				81,500
Equity
Common stock, $5 par value		177,300				141,500
Retained earnings		30,200				6,500
Total liabilities and equity	$	252,500			$	229,500

CRUZ, INC. Income Statement For Year Ended December 31, 2019
Sales				$	392,900
Cost of goods sold					252,900
Gross profit					140,000
Operating expenses
Depreciation expense	$	30,200
Other expenses		71,600			101,800
Income before taxes					38,200
Income taxes expense					13,900
Net income				$	24,300

Use the above balance sheet and income statement to prepare the operating activities section by DIRECT method. Assume all the sales were made on credit basis. (Amounts to be deducted should be indicated with a minus sign.)

Cash flows from operating activities
Cash received from customers
Cash paid for inventory
Cash paid for other expenses
Cash paid for taxes
Net cash provided by operating activities