CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 2018 $ 99,300 42,600 89,100 5.600 236,600 113,000 (17,500) 5332,100 $ 24,900 52,300 99,200 4,500 181,400 127,500 (9.600) $299, 300 Assets Cash Accounts receivable, net Tnventory 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, 55 par value Retained earnings Total liabilities and equity $ 15,700 9,400 1,500 26,600 30,980 57,500 $ 22,000 5,000 2,800 29,800 74,300 104,100 241,200 33,400 $332.100 192,600 2,600 $299, 300 CRUZ, INC. Income Statement For Year Ended December 31, 2019 Sales $512,300 Cost of goods sold 329,700 Gross profit 182,600 Operating expenses Depreciation expense $39,400 other expenses 93,500 132.900 Income before taxes 49,700 Income taxes expense 18,100 Net income $31,600 Furniture costing $74,800 is sold at its book value in 2019. Acquisitions of furniture total $60,300 cash, on which no depreciation is necessary because it is acquired at year-end. Complete the general ledger accounts to calculate cash received from the sale of furniture Complete the general ledger accounts to calculate cash received from the sale of furniture Furniture costing $74,800 is sold at its book value in 2019. Acquisitions of furniture total $60,300 cash, on which no depreciation is necessary because it is acquired at year-end. Complete the general ledger accounts to calculate cash received from the sale of furniture Complete the general ledger accounts to calculate cash received from the sale of furniture. Furniture Beg bal End, bal Accumulated Depreciation Beg bal End ball Cost Accumulated depreciation Book value (Cash received)