A comparative balance sheet and income statement is shown for Cruz, Incorporated.

CRUZ, INCORPORATED
Comparative Balance Sheets
At December 31	2021	2020
Assets
Cash	$ 73,200	$ 18,300
Accounts receivable, net	31,400	38,800
Inventory	65,700	72,800
Prepaid expenses	4,100	3,300
Total current assets	174,400	133,200
Furniture	82,700	93,500
Accumulated depreciationFurniture	(12,800)	(7,100)
Total assets	$ 244,300	$ 219,600
Liabilities and Equity
Accounts payable	$ 11,500	$ 16,200
Wages payable	6,800	3,800
Income taxes payable	1,100	2,100
Total current liabilities	19,400	22,100
Notes payable (long-term)	22,700	55,700
Total liabilities	42,100	77,800
Equity
Common stock, $5 par value	173,100	134,500
Retained earnings	29,100	7,300
Total liabilities and equity	$ 244,300	$ 219,600

CRUZ, INCORPORATED
Income Statement
For Year Ended December 31, 2021
Sales	$ 375,900
Cost of goods sold	241,900
Gross profit	134,000
Operating expenses (excluding depreciation)	68,600
Depreciation expense	28,900
Income before taxes	36,500
Income taxes expense	13,300
Net income	$ 23,200

Use the above balance sheet and income statement to prepare the operating activities section by direct method. Assume all the sales were made on credit basis. (Amounts to be deducted should be indicated with a minus sign.)