The following information applies to the questions displayed below. A comparative balance sheet and income statement is shown for Cruz, Inc. CRUZ,INC Comparative Balance Sheets December 31, 2017 2017 2016 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accum. depreclation-Furniture Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes peyable (long-term) Total liabilities Equity Common stock, $5 par value Retalned earnings Total labiltities and equity 71,600 18,000 30,900 38,200 64,700 71,700 3,300 4,000 171,200 131,200 80,600 93,500 (12.500)7000) $239,300 $217,700 $ 11300 16,000 3,800 2,100 21,900 22,800 55,800 6,800 1,100 19.200 42,000 77,700 174,100 138,700 23,200 1.300 $239,300 $217,700 CRUZ, INC Income Statement For Year Ended December 31, 2017 Sales Cost of goods sold Gross proft Operating expenses $372,800 239,900 132,900 Depreciation expense $28,700 Other expenses Income before taxes Income taxes expense Net income 68,100 96,800 36,100 13,200 $ 22,900 10. Award: 1.00 point