omework (30pts) 0 Required information Use the following information for the Quick Study below. The following 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 Accounts receivable, net 94,800 24,000 51,000 85,80095, 800 5,4004200 41,000 Inventory Prepaid expenses Total current assets Furniture Accum. depreciation-Furniture Total assets Liabilities and Equity Accounts payable Wages payable 227,000 175,000 109,000 119,000 (17,000)(9.000) $319,000 $285,000 $ 15,00021,000 5,000 2,600 28,600 69,000 97,600 Income taxes payable Total eurrent liabilities Notes payable (long-term) 9,000 400 25,400 Total 1iabilities Equity Common stock, $5 par value 54,400 Retained earnings Total liabilities and equity 229,000 179,000 35,6008,400 $319,000 $285,000 CRUZ, INC. Incone Statement G Search or type URL