Transcribed image text: A comparative balance sheet and income statement is shown for Cruz, Incorporated. CRUZ, INCORPORATED Comparative Balance Sheets At December 31 2020 Assets Cash $ 22,900 Accounts receivable, net 48,600 Inventory 91,300 Prepaid expenses 4,100 Total current assets 166,900 Furniture 116,200 Accumulated 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 Sales Cost of goods sold. Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income 2021 $91,100 39,100 81,800 5,200 217,200 105,000 (16,200) $ 306,000 $ 14,400 8,600 1,400 24,400 28,900 53,300 216,400 36,300 $ 306,000 CRUZ, INCORPORATED Income Statement For Year Ended December 31, 2021 (8,700) $ 274,400 $ 20,200 4,500 2,500 27,200 66,400 93,600 172,100 8,700 $ 274,400 $469,700 302,300 167,400 85,900 36,200 45,300 16,500 $ 28,800 QS 12-26B (Algo) Direct: Computing cash received from customers LO P5 1. How much cash is received 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. Required 1 Required 2 How much cash is received from sales to customers for year 2021? Assume all the sales were made on credit basis. ces Accounts Receivable Beginning balance Ending Balance 0 3. Regulind1 Required 2 > QS 12-26B (Algo) Direct: Computing cash received from customers LO P5 1. How much cash is received from sales to customers for year 2021? Assume all the sales were made on cre 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. Required 1 Required 2 What is the net increase or decrease in the Cash account for year 2021?