Q10

vecember 31, 2017 2017 2016 $ 75,900 32,600 68,300 4,200 181,000 84,600 (13,100) $252,500 $ 18,900 40,100 75,300 3,500 137,800 99,200 (7,500) $229,500 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 (long-term) Total liabilities Equity Common stock, $5 par value Retained earnings Total liabilities and equity $ 11,900 7,100 1,200 20,200 24,800 45,000 $ 16,900 4,000 2,200 23,100 58,400 81,500 177, 300 30, 200 $252,500 141,500 6,500 $229,500 CRUZ, INC. Income Statement For Year Ended December 31, 2017 Sales $392,900 Cost of goods sold 252,900 Gross profit 140,000 Operating expenses Depreciation expense $ 30,200 Other expenses 71,600 101,800 Income before taxes 38,200 Income taxes expense 13,900 Net income $ 24,300 Furniture costing $67,600 is sold at its book value in 2017. Acquisitions of furniture total $53,000 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? Part 2 of 3 Furniture Beg bal eBook Hint End bal Print Accumulated Depreciation References Beg bal End bal Cost Accumulated depreciation Book value (Cash received)