CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 2018 $ 72,900 31,300 65,600 4,000 173,800 80,600 (12,500) $241,900 $ 18,100 38,400 72,100 3,300 131,900 (7,100) $218,300 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 $ 11,400 6,800 1,200 19,400 24,800 44,200 $ 16,100 3,800 2,100 22,000 55,800 77,800 170,300 27,400 $241,900 134,800 5,700 $218,300 CRUZ, INC. Income Statement For Year Ended December 31, 2019 Sales $373,800 Cost of goods sold 240,600 Gross profit 133,200 Operating expenses Depreciation expense $ 28,800 Other expenses 68,300 97,100 Income before taxes 36,100 Income taxes expense 13,100 Net income $ 23,000 Furniture costing $66,000 is sold at its book value in 2019. Acquisitions of furniture total $53,100 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 ba Cost Accumulated depreciation Book value (Cash received)