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. Income Statement For Year Ended December 31, 2017 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 89,100 126,700 47,300 17,300 S 30,000 CRUZ, INC Comparative Balance Sheets December 31, 2017 5 Accounts receivable, net Prepaid expenses. $319.000 $285,000 Liabilities and Equity Wages payable Income taxes payable Total current liabilities Notes payable (long-term) Common stock, $5 par value Total liabilities and equity $319.000 $285,000