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A comparative balance sheet and income statement is shown for Cruz, Inc.

CRUZ, INC. Comparative Balance Sheets December 31, 2017
		2017				2016
Assets
Cash	$	94,800			$	24,000
Accounts receivable, net		41,000				51,000
Inventory		85,800				95,800
Prepaid expenses		5,400				4,200
Total current assets		227,000				175,000
Furniture		109,000				119,000
Accum. depreciationFurniture		(17,000	)			(9,000	)
Total assets	$	319,000			$	285,000
Liabilities and Equity
Accounts payable	$	15,000			$	21,000
Wages payable		9,000				5,000
Income taxes payable		1,400				2,600
Total current liabilities		25,400				28,600
Notes payable (long-term)		29,000				69,000
Total liabilities		54,400				97,600
Equity
Common stock, $5 par value		229,000				179,000
Retained earnings		35,600				8,400
Total liabilities and equity	$	319,000			$	285,000

CRUZ, INC. Income Statement For Year Ended December 31, 2017
Sales				$	488,000
Cost of goods sold					314,000
Gross profit					174,000
Operating expenses
Depreciation expense	$	37,600
Other expenses		89,100			126,700
Income before taxes					47,300
Income taxes expense					17,300
Net income				$	30,000

QS 12-16B Direct: Computing cash from operations LO P5

Use the above balance sheet and income statement to prepare the cash provided (used) from operating activities section by direct method. (Amounts to be deducted should be indicated with a minus sign.)