QS 12-25B Direct: Computing cash received from customers LO PS 2018 CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 Assets Cash $ 64,300 Accounts receivable, net 27,600 Inventory 57,700 Prepaid expenses 3,600 Total current assets 153,200 Furniture 72,600 Accun. depreciation Furniture (11.200) Total assets $214,600 Liabilities and Equity Accounts payable $ 10,100 Wages payable 6,000 Income taxes payable 1,000 Total current liabilities 17,100 Notes payable (long-term) 20,600 Total liabilities 37,700 Equity Common stock, $5 par value 154,700 Retained earnings 22,200 Total liabilities and equity $214,600 $ 16,100 34,100 64,000 2,900 117, 100 82,200 (6,200) $193,100 $ 14,200 3.300 1.800 19,300 47,700 67,000 123,700 2.400 $193, 100 CRUZ, INC. Income Statement For Year Ended December 31, 2019 Sales $330,500 Cost of goods sold 212, 700 Gross profit 117,800 Operating expenses Depreciation expense $25,400 Other expenses 60,300 85,700 Income before taxes 32,100 Income taxes expense 11,700 Set income $ 20,400 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? 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 bests. Accounts Receivable Beg, bal End bal. Required 2 > 1. How much cash is received from sales to customers for year 2019? Assume all the sal 2. What is the net increase or decrease in cash for year 2019? were made on credit basis. 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? (Required 1