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 2021 2020 Assets Cash $ 91,100 $ 22,900 Accounts receivable, net 39,100 48,600 Inventory 81,800 91,300 Prepaid expenses 5,200 4,100 Total current assets 217,200 166,900 Furniture 105,000 116,200 Accumulated depreciation-Furniture (16,200) (8.700) Total assets $ 306,000 $ 274,400 Liabilities and Equity Accounts payable $ 14,400 $ 20,200 Wages payable 8,600 4,500 Income taxes payable 1,400 2,500 Total current liabilities 24,400 27,200 Notes payable (long-term) 28,900 66,400 Total liabilities 53,300 93,600 Equity Common stock, $5 par value 216,400 172, 100 Retained earnings 36,300 8,700 Total liabilities and equity $ 306,000 $ 274,400 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 $ 469, 700 302,300 167,400 85,900 36,200 45,300 16,500 $ 28,800 QS 16-26B (Algo) Direct: Computing cash received from customers LO PS 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. Accounts Receivable Beginning balance Cash collections from customers Ending Balance 0 Required 1 Required 2 > QS 16-26B (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? 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