S 16-13 (Algo) Computing cash from asset sales LO P3 CRUZ, INCORPORATED Comparative Balance Sheets At December 31 2021 2020 Assets Cash $ 99,300 $ 24,900 Accounts receivable, net 42,600 52,800 Inventory 89,100 99,200 Prepaid expenses 5,600 4,500 Total current assets 236,600 181,400 Furniture 113,000 127,500 Accumulated depreciationFurniture (17,500) (9,600) Total assets $ 332,100 $ 299,300 Liabilities and Equity Accounts payable $ 15,700 $ 22,000 Wages payable 9,400 5,000 Income taxes payable 1,500 2,800 Total current liabilities 26,600 29,800 Notes payable (long-term) 30,900 74,300 Total liabilities 57,500 104,100 Equity Common stock, $5 par value 241,200 192,600 Retained earnings 33,400 2,600 Total liabilities and equity $ 332,100 $ 299,300