CRUZ, INCORPORATED

At December $31$

Comparative Balance Sheets

Assets

Cash

Accounts receivable, net

Inventory

Prepaid expenses

Total current assets

Furniture

Accumulated 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

$\backslash$table$[[$$$62,800,$$$15,700$

Use the indirect method to prepare the operating activities section of Cruz's statement of cash flows