Use the balance sheets and income statement given below to answer the following: CRUZ, INC Comparative Balance Sheets December 31, 2013 2013 2012 Assets Cash Accounts receivable, net Inventory Prepaid expenses Furniture Accum. depreciation-Furniture $94,800 24,000 41,00051,000 85,80095,800 5,4004,200 109,000 119,000 (17,000) (9,000) Total assets $319,000 $285,000 Liabilities and Equity Accounts payable Wages payable $15,000 21,000 9,000 5,000 1,4002,600 29,000 69,000 229,000 179,000 35,600 8,400 Income taxes payable Notes payable (long-term) Common stock, $5 par value Retained earnings Total liabilities and equity $319,000 $285,000 CRUZ, ING Income Statement For Year Ended December 31, 2013 Sales Cost of goods sold $488,000 314 000 174,000 Gross proft Operating expenses De $37, 600 expense 700