A comparative balance sheet and income statement is shown for Cruz, Incorporated. CRUZ, INCORPORATED Comparative Balance Sheets At December 31 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accumulated depreciation-Furniture Total assets Liabilities and Equity Accounts payable Wages payable 2021 2020 $ 66,100 28,500 $ 16,600 35,200 59,700 66,100 3,700 3,000 158,000 120,900 74,600 (11,600) $ 221,000 $ 10,400 6,300 85,000 (6,400) $ 199,500 $ 14,700 3,500 Income taxes payable 1,000 1,900 Total current liabilities Notes payable (long-term) Total liabilities Equity Common stock, $5 par value Retained earnings 17,700 20,100 20,700 50,500 38,400 70,600 159,500 125,000 23,100 3,900 Total liabilities and equity $ 221,000 $ 199,500 CRUZ, INCORPORATED Income Statement Sales For Year Ended December 31, 2021 $ 341,600 219,800 121,800 Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income 62,400 26,300 33,100 12,100 $ 21,000