QS 16-12 Computing cash flows from investing LO P3 Sale of short-term stock Investments Cash collections from customers Purchase of used equipment Depreciation expense $ 7,100 18,900 6,200 2,300 Compute cash flows from Investing activities using the above company information (Amounts to be deducted should be indicate a minus sign.) Investing Activities $ 2018 CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 Assets Cash $ 99,300 Accounts receivable, net 42,600 Inventory 89,100 Prepaid expenses 5,600 Total current assets 236,600 Furniture 113,000 Accum. depreciation-Furniture (17,500) Total assets $332,100 Liabilities and Equity Accounts payable $ 15,709 Wages payable 9,400 Income taxes payable 1,500 Total current liabilities 26,600 Notes payable (long-term) 30,900 Total liabilities 57,500 Equity Common stock, $5 par value 241,200 Retained earnings 33,400 Total liabilities and equity $332, 100 $ 24,900 52,800 99,200 4,500 181,400 127,500 (9,600) $299, 300 $ 22,000 5,000 2,800 29,800 74,300 104,100 192,600 2.600 $299, 300 CRUZ, INC. Income Statement For Year Ended December 31, 2019 Sales $512, 300 refrente att 2107 Check LUE Income Statement For Year Ended December 31, 2019 Sales $512,300 Cost of goods sold 329,700 Gross profit 182,600 Operating expenses Depreciation expense 539,400 Other expenses 93.500 132.900 Income before taxes 49,700 Income taxes expense 18.100 Net income 5 31,600 Furniture costing $74,800 is sold at its book value in 2019. Acquisitions of furniture total $60,300 cash, on which no depreciation is necessary because it is acquired at year-end. Complete the general ledger accounts to calculate cash received from the sale of furniture Complete the general ledger accounts to calculate cash received from the sale of furniture Furniture Beg bal End bal Complete the general ledger accounts to calculate cash received from the sale of furniture, Fumiture Beg bal End bal Accumulated Dopreciation Beg bal End bal Cost Accumulated depreciation Book value (Cash received) The following information is from Princeton Company's comparative balance sheets At December 31 Common stock, $10 par value Paid in capital in excess of par Retained earnings Current Prior Year Year $ 108,098 $ 192,000 569,000 343,000 315,500 289,500 The company's net income for the current year ended December 31 was $49,000 1. Complete the T-accounts to calculate the cash received from the sale of its common stock during the current year Common Stock, S10 Par Beg bal End bal Paid-in Capital in Excess of Par Beg bal End, bal he company's net income for the current year ended December 31 was $49,000. - Complete the T-accounts to calculate the cash received from the sale of its common stock during the current year Common Stock, S10 Par Beg bal End, bal Paid in Capital in Excess of Par Beg bal End bal Cash received 80'F Clou