Required information [The following information applies to the questions displayed below.] A comparative balance sheet and income statement is shown for Cruz, Incorporated. CRUZ, INCORPORATED Comparative Balance Sheets. At December 31 Assets Cash Accounts receivable, net Prepaid expenses Inventory Total current assets Furniture Accumulated 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 Sales CRUZ, INCORPORATED Income Statement 2021 2020 $ 63,600 27,400 $ 15,900 33,700 57,400 63,300 3,500 2,900 151,900 115,800 70,500 82,200 (10,900) (6,200) $ 211,500 $191,800 $ 10,000 $ 14,100 6,000 3,300 1,000 1,800 17,000 19,200 20,700 47,800 37,700 67,000 153,600 124,000 20,200 800 $ 211,500. $191,800 For Year Ended December 31, 2021 Cost of goods sold Gross profit $ 328,400 211,300 117.100 Accounts receivable, net 27,400 33,700 Inventory 57,400 63,300 Prepaid expenses 3,500 2,900 Total current assets Furniture: Accumulated depreciation-Furniture Total assets Liabilities and Equity Accounts payable Wages payable 151,900 115,800 70,500 82,200 (10,900) (6,200) $ 211,500 $191,800 $ 10,000 $ 14,100 6,000 3,300 Income taxes payable 1,000 1,800 Total current liabilities Notes payable (long-term) Total liabilities Equity Common stock, $5 par value Retained earnings 17,000 19,200 20,700 47,800 37,700 67,000 153,600 20,200 124,000 800 Total liabilities and equity $ 211,500 $ 191,800 CRUZ, INCORPORATED Income Statement For Year Ended December 31, 2021 Sales Cost of goods sold $ 328,400 211,300 Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income 117,100 60,000 25,300 31,800 11,600 $ 20,200 1. How much cash is received from sales to customers for year 2021? Assume all the sales were made on credit basis. 2. What is the net increase or decrease in the Cash account for year 2021? 1. How much cash is received from sales to customers for year 2021? Assume all the sales were made on credit basis. 2. What is the net increase or decrease in the Cash account for year 2021? 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 2021? Assume all the sales were made on credit basis. Beginning balance Accounts Receivable Ending Balance 0 Required 1 Required 2 > Depreciation expense Income before taxes Income taxes expense Net income 25,300 31,800 11,600 $ 20,200 1. How much cash is received from sales to customers for year 2021? Assume all the sales were made on credit basis. 2. What is the net increase or decrease in the Cash account for year 2021? Complete this question by entering your answers in the tabs below. Required 1 Required 2 What is the net increase or decrease in the Cash account for year 2021? < Required 1 Required 2 >