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the years that are miss 2019 and 2020. $ 90,700 38,900 81,300 5,100 216,000 102,900 (15,900) $303,000 $ 22,700 48,100 90,300 4,100 165,200 116,200 (8,800)
the years that are miss 2019 and 2020.
$ 90,700 38,900 81,300 5,100 216,000 102,900 (15,900) $303,000 $ 22,700 48,100 90,300 4,100 165,200 116,200 (8,800) $272,600 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accum. depreciation-Furniture Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long-term) Total liabilities Equity Common stock, $5 par value Retained earnings Total liabilities and equity $ 14,300 8,500 1,400 24, 200 28,800 53,000 $ 20,000 4,600 2,500 27,100 66,300 93,400 215,100 34,900 $303,000 171,900 7,300 $272,600 CRUZ, INC. Income Statement For Year Ended December 31, 2019 Sales $466,600 Cost of goods sold 300,300 Gross profit 166,300 Operating expenses Depreciation expense $ 35,900 Other expenses 85,200 121,100 Income before taxes 45,200 Income taxes expense 16,500 Net income $ 28,700 Toldi IldUlIIlies 000 9,400 Equity Common stock, $5 par value Retained earnings Total liabilities and equity 215,100 34,900 $303,000 171,900 7,300 $272,600 CRUZ, INC. Income Statement For Year Ended December 31, 2019 Sales $466,600 Cost of goods sold 300,300 Gross profit 166,300 Operating expenses Depreciation expense $ 35,900 Other expenses 85,200 121,100 Income before taxes 45,200 Income taxes expense 16,500 Net income $ 28,700 1. How much cash is paid to acquire inventory during year 2019? 2. How much cash is paid for "other expenses" during year 2019? Hint: Examine prepaid expenses and wages payabl 1. Cash paid for inventory Cash paid for other expenses 2Step by Step Solution
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