Refer to the data in QS 16-11.

1. How much cash is received from sales to customers for year 2017?
2. What is the net increase or decrease in cash for year 2017?

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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