QS 12-25B Direct: Computing cash received from customers LO P5 2018 CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 Assets Cash $ 90,700 Accounts receivable, net 38,900 Inventory 81,369 Prepaid expenses 5,109 Total current assets 216,000 Furniture 102,900 Accum. depreciation-Furniture (15,900) Total assets $303,000 Liabilities and Equity Accounts payable $ 14,300 Wages payable 8,500 Income taxes payable 1,400 Total current liabilities 24, 200 Notes payable (long-term) 28,800 Total liabilities 53,800 Equity Common stock, $5 par value 215,109 Retained earnings 34,900 Total liabilities and equity $303,000 $ 22,700 48, 100 90,300 4,100 165,200 116,200 (8,800) $272,600 $ 20,000 4,600 2,500 27, 108 66,3ee 93,400 171,900 7,300 $272,600 CRUZ, INC Income Statement For Year Ended December 31, 2019 Sales $466,600 Cost of goods sold 308,300 Gross profit 166,300 Operating expenses Depreciation expense $35,900 Other expenses 85,200 121,180 Income before taxes 45,200 Income taxes expense 16,500 Net income $ 28,780 1. How much cash is received from sales to customers for year 2019? Assume all the sales were 2 What is the net increase or decrease in cash for year 2019? Complete this question by entering your answers in the tabs below. Operating expenses Depreciation expense Other expenses Income before taxes Income taxes expense Net Income $35,900 85,200 121,199 45,200 16,500 $ 28,700 1. How much cash is received from sales to customers for year 2019? Assume all the sales were made on credit basis. 2. What is the net increase or decrease in cash for year 2019? Complete this question by entering your answers in the tabs below. Required 1 Required 2 How much cash is received from sales to customers for year 20197 Assume all the sales were made on credit basis. Accounts Receivable Beg bal End, bal Required 2 > $35,900 85,200 Depreciation expense Other expenses Income before taxes Income taxes expense Net income 121, 100 450 200 16,500 $ 281700 ces 1. How much cash is received from sales to customers for year 2019? Assume all the sales 2. What is the net increase or decrease in cash for year 2019? Complete this question by entering your answers in the tabs below. Required 1 Required 2 What is the net increase or decrease in cash for year 2019?