HOW TO DO THIS QUESTION?

Requlred Information Use the following information for the Quick Study below. The followng Information applies to the questions displayed below A comparative balance sheet and income statement is shown for Cruz, Inc. CRUZ, INC. Comparative Balance Sheets December 31, 2017 2017 2016 Assets Cash $ 62,800 $ 15,700 Accounts receivable, net 27,000 33,300 Inventory 56,600 62,500 Prepaid expenses 3,500 2,900 Total current assets 149,900 114,400 Furniture 70,500 82,200 Accum. depreciation-Furniture 10,900 (6,200) Total assets $209,500 $190,400 Liabilities and Equity Accounts payable $ 9,900 $ 14,000 Nages payable 5,909 3,300 Income taxes payable 1,000 1,800 Total current liabilities 16,800 19, 100 Notes payable (long-term) 20,700 47,800 Total liabilities 37,500 66,900 Equity Common stock, $5 par value 150,000 121,000 Retained earnings 22,000 2,500 Total liabilities and equity $209,500 $199,400 CRUZ, INC. Income Statement For Year Ended December 31, 2017 Sales $326,000 Cost of goods sold 209,800 Gross profit 116,200 Operating expenses Depreciation expense $25,100 Other expenses 59,500 84,600 Income before taxes 31,600 TA CRUZ) INC. Income Statement For Year Ended December 31, 2017 Sales $326,000 Cost of goods sold 209,800 Gross profit 116, 200 Operating expenses Depreciation expense $25,100 Other expenses 59,500 84,600 Income before taxes 31,600 Income taxes expense 11 500 Net income $ 20,100 QS 12-12 Computing cash from asset sales LO P3 Furniture costing $63,700 is sold at its book value in 2017. Acquisitions of furniture total $52,000 cash, on which no depreciation is necessary because it is acquired at year-end. What is the cash Inflow related to the sale of furniture? Furniture Beg. bal End, bal Accumulated Depreciation Beg, bal End bal Cast Accumulated depreciation Book value (Cash received) $