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Required information Use the following information for the Quick Study below. A comparative balance sheet and income statement is shown for Cruz, Inc. ies Comparative Balance Sheets December 31, 2017 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accum. depreciation-Furniture Total assets 97,400 24,400 41,800 51,700 87,40097,180 4.408 232,100 177,600 111,800 124,780 5,500 (17,200)(9,400) $325,900 $292,9e0 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 s 15,1400 $ 21,580 4,9e0 2,760 1,500 26,100 188 29,100 3,9 71,600 57,80 180,70e 232,600 185,600 6,600 $325,900 $292,900 36,300 Total liabilities and equity CRUZ, ING. Income Statement For Year Ended December 31, 2017 Sales Cost of goods sold Gross profit Operating expenses $501,300 322,600 178,700 Depreciation expense 38,600 Other expenses Income before taxes Income taxes expense Net income 91,600130,200 48, 500 17,700 30,80e