Refer to the data in QS 16-11.

Furniture costing $55,000 is sold at its book value in 2017. Acquisitions of furniture total $45,000 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?

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CRUZ, INC. Income Statement For Year Ended December 31, 2017 $488,000 314,000 174,000 Gross profit Operating expenses 37,600 Other expenses Income before taxes 89,100 126,700 47,300 17,300 30,000 Net income CRUZ, INC. Comparatve Balance Sheets December 31,2017 2017 2016 Assets 1,000 51,000 85,800 95800 ,300 227,000 175,000 09,000 119,000 (17,000)9,000 $319,000 $285,000 Inventory 5,400 Total current assets Liabilities and Equity amnis piogae_.... $15,000 21,000 9,000 5.000 Income taxes payable Total current liabilities Notes payable (long-term) 1.400 25,400 28,600 ,0006,00 54,400 97,600 Equity 229,000 179,000 8,400 Retained earnings 35,600