A comparative balance sheet and Income statement is shown for Cruz, Incorporated. CRUZ, INCORPORATED Comparative Balance...

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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 $ 82,800 $ 20,600 35,500 43,700 74,300 82,000 4,600 3,700 197,200 150,000 92,800 104,800 (8,000) (14,400) $ 275,600 $ 13,000 7,700 $ 246,800 18,200 4,300 Income taxes payable 1,300 2,400 Total current liabilities Notes payable (long-term) Total liabilities Equity Common stock, $5 par value Retained earnings 22,000 24,900 26,800 63,700 48,800 88,600 198,800 28,000 155,300 2,900 Total liabilities and equity $ 275,600 $ 246,800 CRUZ, INCORPORATED Income Statement Sales For Year Ended December 31, 2021 $ 422,500 271,900 150,600 Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income 77,100 32,500 41,000 14,900 $ 26,100 Required: Use the indirect method to prepare the operating activities section of Cruz's statement of cash flows. (Amounts to be deducted should be indicated with a minus sign.) Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities 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 $ 82,800 $ 20,600 35,500 43,700 74,300 82,000 4,600 3,700 197,200 150,000 92,800 104,800 (8,000) (14,400) $ 275,600 $ 13,000 7,700 $ 246,800 18,200 4,300 Income taxes payable 1,300 2,400 Total current liabilities Notes payable (long-term) Total liabilities Equity Common stock, $5 par value Retained earnings 22,000 24,900 26,800 63,700 48,800 88,600 198,800 28,000 155,300 2,900 Total liabilities and equity $ 275,600 $ 246,800 CRUZ, INCORPORATED Income Statement Sales For Year Ended December 31, 2021 $ 422,500 271,900 150,600 Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income 77,100 32,500 41,000 14,900 $ 26,100 Required: Use the indirect method to prepare the operating activities section of Cruz's statement of cash flows. (Amounts to be deducted should be indicated with a minus sign.) Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities