Required information [The following information applies to the questions displayed below.) A comparative balance sheet and income statement is shown for Cruz, Incorporated. 2020 CRUZ, INCORPORATED Comparative Balance Sheets At December 31 2021 Assets Cash $ 99,300 Accounts receivable, net 42,600 Inventory 89, 100 Prepaid expenses 5,600 Total current assets 236,600 Furniture 113,000 Accumulated depreciation-Furniture (17,500) Total assets $ 332,100 Liabilities and Equity Accounts payable $ 15,700 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, INCORPORATED Income Statement For Year Ended December 31, 2021 Sales Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income $ 512,300 329,700 182,600 93,500 39,400 49,700 18,100 $ 31,600 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. Accounts Receivable Beginning balance Sales on account Cash collections from customers Ending Balance 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? Net increase in cash