QS 16-13 (Algo) Computing cash from asset sales LO P3 CRUZ, INCORPORATED Comparative Balance Sheets At December 31 Assets Cash Accounts receivable, net Prepaid expenses 2021 2020 $ 89,000 $ 22,100 38,200 46,900 Inventory Total current assets Furniture Accumulated depreciation-Furniture Total assets Liabilities and Equity Accounts payable Wages payable 80,000 88,000 4,900 4,000 212,100 161,000 98,800 113,300 (15,300) (8,600) $ 295,600 $ 265,700 $ 13,900 $ 19,600 8,200 4,600 Income taxes payable 1,400 2,600 Total current liabilities Notes payable (long-term) Total liabilities Equity Common stock, $5 par value Retained earnings 23,500 26,800 28,900 69,000 52,400 95,800 215,000 28,200 169,100 800 Total liabilities and equity $ 295,600 $ 265,700 CRUZ, INCORPORATED Income Statement For Year Ended December 31, 2021 Sales Cost of goods sold Gross profit Onerating evnences (excluding depreciation) $ 454,900 292,800 162,100 83 aaa < Prev 6 of 10 N