Required Information Use the following Information for the Quick Study below. (Algo) [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 2821 2020 Assets Cash $ 64,400 $ 16,200 Accounts receivable, net 27, see 34,400 Inventory 58,2ee 64,600 Prepaid expenses 3,6ee 2,900 Total current assets 154, eee 118,100 Furniture 72,620 82,280 Accumulated depreciation-Furniture (11,300) (6,200) Total assets $ 215,300 $ 194,100 Liabilities and Equity Accounts payable $ 10, 1ee $ 14,300 Wages payable 6,100 3,400 Income taxes payable 1, eee 1,800 Total current liabilities 17,200 19,500 Notes payable (long-term) 20,7ee 47,800 Total liabilities 37,900 67,300 Equity Common stock, $5 par value 154,500 124,600 Retained earnings 22,900 2,800 Total liabilities and equity $ 215,300 $ 194,100 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 $ 332,480 213,988 118,500 60,700 25,600 32,200 11,800 $ 20,480 QS 12-26B (Algo) Direct: Computing cash received from customers LO P5 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