Use the following information for the Quick Study below. (Algo) Skip to question [The following information applies to the questions displayed below.] A comparative balance sheet and income statement is shown for Cruz, Incorporated. CRUZ, INCORPORATED Comparative Balance Sheets At December 31 2021 2020 Assets Cash $ 71,600 $ 18,000 Accounts receivable, net 30,900 38,200 Inventory 64,700 71,700 Prepaid expenses 4,000 3,300 Total current assets 171,200 131,200 Furniture 80,600 93,500 Accumulated depreciationFurniture (12,500) (7,000) Total assets $ 239,300 $ 217,700 Liabilities and Equity Accounts payable $ 11,300 $ 16,000 Wages payable 6,800 3,800 Income taxes payable 1,100 2,100 Total current liabilities 19,200 21,900 Notes payable (long-term) 22,800 55,800 Total liabilities 42,000 77,700 Equity Common stock, $5 par value 174,100 138,700 Retained earnings 23,200 1,300 Total liabilities and equity $ 239,300 $ 217,700 CRUZ, INCORPORATED Income Statement For Year Ended December 31, 2021 Sales $ 372,800 Cost of goods sold 239,900 Gross profit 132,900 Operating expenses (excluding depreciation) 68,100 Depreciation expense 28,700 Income before taxes 36,100 Income taxes expense 13,200 Net income $ 22,900 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?

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. 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. What is the net increase or decrease in the Cash account for year 2021