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 2016 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accum. depreciation-Furniture Total assets $94,800 24,000 51,000 41,000 85, 800 5, 400 4, 200 227,000 175, 000 109,000 119,000 (17,000) (9,000) $319,000 $285, 000 Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current 1iabilities Notes payable (long-term) Total liabilities Equity Common stock, $5 par value Retained earnings Total liabilities and equity s 15,000 21,000 5,000 2, 600 28, 600 69,000 9,000 1,400 25, 400 20097,600 229,000 35, 600 179, 000 8, 400 $285, 000 $319,000 CRUZ, I Income Statement For Year Ended December 31, 2017 Sales cost of goods sold Gross profit Operating expenses $488, 000 314,000 174,000 Depreciation expense $37, 600 other expenses Income before taxes Income taxes expense Net income 89,100 126,700 47, 300 17,300 30, 000 Required Use the indirect method to prepare the cash provided or used from operating activities section only of the his company. (Amounts to be deducted should be indicated with a minus sign.)