OS 12-25 Direct: Computing cash received from customers P5 Refer to the data in QS 12-7. 1. How much cash is received from sales to customers for year 2019? 2. What is the net increase or decrease in the Cash account for year 2019? 480 Chapter 12 Reporting Cash Flows QS 12-7 Indirect: Computing cash from operations P2 T CRUZ, INC. Comparative Balance Sheets 2019 2018 $ 24000 5150 95804 At December 31 Assets Cash... Accounts receivable, net Inventory. Prepaid expenses. Total current assets Furniture Accum. depreciation--Furniture Total assets. Liabilities and Equity Accounts payable Wages payable Income taxes payable. Total current liabilities Notes payable (longterm). Total liabilities $ 94,800 41,000 85,800 5,400 227.000 109,000 (17.000) $319,000 . 4200 175,000 119.000 19.000 $285.000 CRUZ, INC. Income Statement For Year Ended December 31, 2019 ### $488,000 314,000 174,000 Sales Cost of goods sold Gross profit. Operating expenses Depreciation expense. Other expenses Income before taxes.. Income taxes expense Net Income $ 15,000 9,000 1,400 25,400 29,000 54,400 $ 21.00 5,000 2.600 28,500 69.00 97,600 $37,600 89,100 126,700 47,300 17,300 $ 30,000 Equity Common stock, $5 par value.... Retained earnings.. Total liabilities and equity. 229,000 35,600 $319,000 179,000 8400 $285,000 Required Use the indirect method to prepare the operating activities section of Cruz's statement of cash flows. QS 12-8 Computina ar The following information is from Ellerby Company's com