CRUZ, INCORPORATED Comparative Balance Sheets At December 31 2021 2020 Assets Inventory Cash Accounts receivable, net Prepaid expenses Total current assets $ 73,200 $ 18,300 31,400 38,800 65,700 72,800 4,100 3,300 174,400 133,200 Total assets Furniture Accumulated depreciation-Furniture Liabilities and Equity Accounts payable Wages payable 82,700 93,500 (12,800) (7,100) $ 244,300 $ 219,600 $ 11,500 $ 16,200 6,800 3,800 Income taxes payable 1,100 2,100 Total current liabilities Notes payable (long-term) Total liabilities Equity Common stock, $5 par value Retained earnings 19,400 22,100 22,700 55,700 42,100 77,800 173,100 134,500 29,100 7,300 Total liabilities and equity $ 244,300 $ 219,600 CRUZ, INCORPORATED Income Statement For Year Ended December 31, 2021 $ 375,900 Sales Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income 241,900 134,000 68,600 28,900 36,500 13,300 $ 23,200