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Please help. The options I have choose might be wrong so please correcf if so. [The following information applies to the questions displayed below) A
Please help. The options I have choose might be wrong so please correcf if so.
[The following information applies to the questions displayed below) A comparative balance sheet and income statement is shown for Cruz, Incorporated. 2020 CRUZ, INCORPORATED Comparative Balance Sheets At December 31 2021 Assets Cash $ 85,900 Accounts receivable, net 36,900 Inventory 77,200 Prepaid expenses 4.900 Total current assets 204,900 Furniture 99,999 Accumulated depreciation Furniture (15.30) Total assets $ 289,500 Liabilities and Equity Accounts payable $ 13,600 Wages payable 8,100 Income taxes payable 1,300 Total current abilities 23, eee Notes payable (long-tern) 26,800 Total liabilities 49,800 Equity Como stock $5 par Value 297,600 Retained earnings 31.100 Total abilities and equity 5 288,500 $ 21,600 45,800 B6,000 3,900 157,300 118, see (8.300) $ 259,500 $ 19, 180 4,300 2,400 25,00 63,700 89,500 165,188 4,900 $ 259,500 CHE INCORPORATED Income statement For Year Ended December 2021 Sales cost of woods sold Grosport Operating excluding depreciation Depron expense Incontre as Thco taxes Net Inc 5444,200 285,00 150,300 81200 54 200 42,00 150 5127,300 QS 16-2BB (Algo) Direct: Computing cash from operations LO P5 QS 16-28B (Algo) Direct: Computing cash from operations LO P5 Use the above balance sheet and income statement to prepare the operating activities section by direct method Assume all the sales were made on credit basis (Amounts to be deducted should be indicated with a minus sign) Cash flows from operating activities Receipts from sales to customers Payments for inventory Payments for other expenses Payments for taxes Net cash provided by operating activities Step by Step Solution
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