Use the indirect method to prepare the cash provided or used from operating activities section only of the statement of cash flows for this company.

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Use the indirect method to prepare the cash provided or used from operating activities section only of the statement of cash flows for this company.

CRUZ, INC. Comparative Balance Sheets December 31,2015 2015 2014 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accum. 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 $94,800 24,000 41,000 5,000 5800 95,800 5.400 4,200 227,000 75,000 109,000 119,000 (17,000)(9.000) $319,000 $285,000 4,2 $15,000 21,000 5,000 9,000 1400 25,400 28,600 29,000 69,000 54,400 97,600 229,000 179,000 8,400 $319,000 $285,000 35,600 CRUZ, ING Income Statement For Year Ended December 31,2015 Sales Cost of goods sold Gross profit Operating expenses $488,000 314,000 174,000 Depreciation expense $37,600 Other expenses Income before taxes Income taxes expense Net income 89,100 26,700 47,300 17,300 $30,000