same information for all
\begin{tabular}{|c|c|c|c|} \hline \begin{tabular}{l} CRUZ, INCOR \\ Comparative Bal \end{tabular} & \begin{tabular}{l} eets \\ 2021 \end{tabular} & & 2020 \\ \hline \multicolumn{4}{|l|}{ Assets } \\ \hline Cash & $90,700 & $ & 22,700 \\ \hline Accounts receivable, net & 38,900 & & 48,100 \\ \hline Inventory & 81,300 & & 90,300 \\ \hline Prepaid expenses & 5,100 & & 4,100 \\ \hline Total current assets & 216,000 & & 165,200 \\ \hline Furniture & 102,900 & & 116,200 \\ \hline Accumulated depreciation-Furniture & (15,900) & & (8,800) \\ \hline Total assets & $303,000 & $ & 272,600 \\ \hline \multicolumn{4}{|l|}{ Liabilities and Equity } \\ \hline Accounts payable & $14,300 & & 20,000 \\ \hline Wages payable & 8,500 & & 4,600 \\ \hline Income taxes payable & 1,400 & & 2,500 \\ \hline Total current liabilities & 24,200 & & 27,100 \\ \hline Notes payable (long-term) & 28,800 & & 66,300 \\ \hline Total liabilities & 53,000 . & & 93,400 \\ \hline \multicolumn{4}{|l|}{ Equity } \\ \hline Common stock, $5 par value & 215,100 & & 171,900 \\ \hline Retained earnings & 34,900 & & 7,300 \\ \hline Total liabilities and equity, & $303,000 & $ & 272,600 \\ \hline \end{tabular} CRUZ, INCORPORATED Income Statement For Year Ended December 31, 2021 \begin{tabular}{lr} Sales & $466,600 \\ Cost of goods sold & 300,300 \\ Gross profit & 166,300 \\ Operating expenses (excluding depreciation) & 85,200 \\ Depreciation expense & 35,900 \\ Income before taxes & 45,200 \\ Income taxes expense & 16,500 \\ Net income & $28,700 \\ \hline \end{tabular} QS 16-26B (Algo) Direct: Computing cash received from customers LO P5 1. How much cash is recelved 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. How much cash is received from sales to customers for year 2021 ? Assume all the sales were made on credit basis. QS 16-26B (Algo) Direct: Computing cash received from customers LO P5 1. How much cash is recelved 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. What is the net increase or decrease in the Cash account for year 2021 ? QS 16-27B (Algo) Direct: Computing operating cash outflows LO P5 1. How much cash is paid to acquire inventory during year 2021 ? 2. How much cash is paid for operating expenses (excluding depreciation) during year 2021? Hint: Examine prepaid expenses and wages payable. QS 16-28B (Algo) Direct: Computing cash from operations LO P5 Use the above balance sheet and income statement to prepare the operating activities section by direct method. Assume all the sales were made on credit basis. Note: Amounts to be deducted should be indicoted with o minus sign
