Question: A comparative balance sheet and income statement is shown for Cruz, Incorporated. 1. How much cash is received from sales to customers for year. 2021



A comparative balance sheet and income statement is shown for Cruz, Incorporated. 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. How much cash is received from sales to customers for year 2021? Assume all the sales were made on credit basis. Use the above balance sheet and income statement to prepare the operating activities section by direct method. Assume all the sales vere made on credit basis. Note: Amounts to be deducted should be indicated with o minus sign. Total liabilities and equity $239,300217,700 1. How much cash is paid to acquire inventory during year 2021 ? 2. How much cash is paid for operating expenses (excluding depreclation) during year 2021? Hint: Examine prepaid expenses and wages payable
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