Required information Use the following information for the Quick Study below. The following information applies to the questions displayed below.] A comparative balance sheet and income statement is shown for Cruz, Inc. CRUZ, INC. Comparative Balance Sheets December 31, 2017 2017 2016 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accum. depreciation-Furniture Total assets $ 85,900 21,600 45,800 86,000 3,900 157,300 110,500 8,300 $288,500 $259,500 36,900 77,200 4 , 900 204,900 98,900 15,300 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 $ 13,600 $19,100 4,300 2,400 25,800 8,100 1,300 23,000 -26180063,700 89,500 49,800 165,100 4.900 207,600 31.100 $288,500 $259,500 CRUZ, INC Income Statement For Year Ended December 31, 2017 $444,200 285,900 158,300 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense $34,200 81,200 115,400 42,900 15,600 $ 27,300 other expenses Income before taxes Income taxes expense Net income QS 12-14B Direct: Computing cash received from customers LO P5 QS 12-14B Direct: Computing cash received from customers LO P5 1. How much cash is received from sales to customers for year 2017? Accounts Receivable Beg. bal. End. bal. 2. What is the net increase or decrease in cash for year 2017