Use the following information for the Quick Study below. A comparative balance sheet and income statement is shown for Cruz, Inc. CRUZ, Comparative Balance Sheets December 31, 2017 2017 2016 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accum. depreciation-Furniture Total assets $ 72,900 18,100 38,400 72,100 3,300 173,800 131,900 93,500 31,300 65,600 4,000 80,600 (12,500) (7,100) $241,900 $218,300 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 s 11,400 $ 16,100 3,800 2,100 22,0e0 55,800 77,800 6,800 1,200 19,400 24,800 44,200 170,300 134,800 5,700 27,400 4e9 5700 $241,900 $218,300 Total liabilities and equity Total liabilities and equity $241,900 $218,300 CRUZ, INC Income Statement For Year Ended December 31, 2017 Sales Cost of goods solod Gross profit Operating expenses 2 $373,80e 240,600 133,200 Depreciation expense $ 28,800 Other expenses Income before taxes Income taxes expense Net income 68,300 97,109 36,100 13,100 $ 23,000 8 QS 16-12 Computing cash from asset sales LO P3 Furniture costing $67,900 is sold at its book value in 2017. Acquisitions of furn necessary because it is acquired at year-end. What is the cash inflow related t QS 16-12 Computing cash from asset sales LO P3 Furniture costing $67,900 is sold at its book value in 2017 Acquisitions of furniture total $55,000 cash, on which no depreciation is necessary because it is acquired at year-end. What is the cash inflow related to the sale of furniture? End. bal Beg bal End bal Cost (Ca