A comparative balance sheet and income statement is shown for Cruz, Incorporated. 2020 CRUZ, INCORPORATED Comparative Balance Sheets At December 31 2021 Assets Cash $ 89,000 Accounts receivable, net 38,200 Inventory 80,000 Prepaid expenses 4,900 Total current assets 212,100 Furniture 98,800 Accumulated depreciation-Furniture (15,300) Total assets $ 295,600 Liabilities and Equity Accounts payable $ 13,900 Wages payable 8,200 Income taxes payable 1,400 Total current liabilities 23,500 Notes payable (long-term) 28,900 Total liabilities 52,400 Equity Common stock, $5 par value 215,000 Retained earnings 28,200 Total liabilities and equity $ 295,600 $ 22,100 46,900 88,000 4,000 161,000 113,300 (8,600) $ 265, 700 $ 19,600 4,600 2,600 26,800 69,000 95,800 169, 100 800 $ 265, 700 CRUZ, INCORPORATED Income Statement For Year Ended December 31, 2021 Sales Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income $ 454,900 292,800 162, 100 83,000 35,000 44,100 16,000 $ 28, 100 1. How much cash is received from sales to customers for year 2021? Assume all the sales were made on credit basis. 2. What is the net increase or decrease in the Cash account for year 2021? Complete this question by entering your answers in the tabs below. Required 1 Required 2 How much cash is received from sales to customers for year 2021? Assume all the sales were made on credit basis. Accounts Rocelvable Beginning balance Ending Balance 0 1. How much cash is received from sales to customers for year 2021? Assume all the sales were made on cr basis. 2. What is the net increase or decrease in the Cash account for year 2021? Complete this question by entering your answers in the tabs below. Required 1 Required 2 What is the net increase or decrease in the Cash account for year 2021? 1. How much cash is paid to acquire Inventory during year 2021? 2. How much cash is paid for operating expenses (excluding depreciation) during year 2021? Hint: Examine prepaid expenses and wages payable. 1. Cash paid for inventory 2. Cash paid for operating expenses 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.) Cash flows from operating activities 0