CRUZ, INCORPORATED Comparative Balance Sheets At December 31 2021 Assets Cash Accounts receivable, net Prepaid expenses $ 99,300 2020 $ 24,900 42,600 52,800 Inventory Total current assets Furniture Accumulated depreciation-Furniture Total assets Liabilities and Equity Accounts payable Wages payable 89,100 99,200 5,600 4,500 236,600 181,400 113,000 127,500 (17,500) (9,600) $ 332,100 $ 299,300 $ 15,700 9,400 $ 22,000 5,000 Income taxes payable 1,500 2,800 Total current liabilities Notes payable (long-term) Total liabilities Equity Common stock, $5 par value Retained earnings 26,600 29,800 30,900 74,300 57,500 104,100 241,200 192,600 33,400 2,600 Total liabilities and equity $ 332,100 $ 299,300 CRUZ, INCORPORATED Income Statement For Year Ended December 31, 2021. Sales Cost of goods sold $ 512,300 329,700 182,600 Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income 93,500 39,400 49,700 18,100 $ 31,600