Use the following information for the Quick Study below. (The following information applies to the questions displayed below.) A comparative balance sheet and income statement is shown for Cruz, Inc. 2016 CRUZ, INC. Comparative Balance Sheets December 31, 2017 2017 Assets Cash $ 75,900 Accounts receivable, net 32,600 Inventory 68,300 Prepaid expenses 4,200 Total current assets 181,000 Furniture 84,600 Accum. depreciation-Furniture (13, 100) Total assets $252,500 Liabilities and Equity Accounts payable $ 11,900 Wages payable 7,100 Income taxes payable 1,200 Total current liabilities 20,200 Notes payable (long-term) 24,800 Total liabilities 45,000 Equity Common stock, $5 par value 177, 300 Retained earnings 30,200 Total liabilities and equity $252,500 $ 18,900 40,100 75,300 3,500 137,800 99,200 (7,500) $229,500 $ 16,900 4,000 2,200 23,100 58,400 81,500 141,500 6,500 $229,500 CRUZ, INC. Income Statement For Year Ended December 31, 2017 Sales $392,900 Cost of goods sold 252,900 Gross profit 140,000 Operating expenses Depreciation expense $30, 200 Other expenses 71,600 101,800 Income before taxes 38,200 Income taxes expense 13,900 Net income $ 24,300 QS 12-12 Computing cash from asset sales LO P3 Furniture costing $67,600 is sold at its book value in 2017. Acquisitions of furniture total $53,000 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? Furniture Beg bal End, bal Accumulated Depreciation Beg, bal End, bal Cost Accumulated depreciation Book value (Cash received)