0 Required information 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 Part 1 of 3 1.36 CRUZ, INC. Comparative Balance Sheets December 31, 2017 2017 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture $ 97,400 24,400 41,800 51, 700 87,400 97,100 4,489 ,500 232,100 177,600 111,000 124, 700 Accum. depreciation-Furniture (12,200)(9,400) Total assets 325,900 $292,900 Liabilities and Equity Account s payable Wages payable Income taxes payable Total current liabilities Notes payable (long-term) Total liabilities Equity Conmon stock, $5 par value Retained earnings %15,400 $ 21,500 4,900 9,200 1,500 1e0 29,108 e,941071,680 57,000 100, 700 232,600 185,60e 16,300 6,600 Total liabilities and equity $325,9e0 $292,900 CRUZ Income Statement 17 $501, 3e Sales Cost of goods sold Gross profit 122,600 178,780