A comparative balance sheet and income statement is shown for Cruz, Incorporated. CRUZ, INCORPORATED Comparative Balance Sheets At December 31 2021 2020 Assets Cash $ 64,400 $ 16,200 Accounts receivable, net 27,800 34,400 Inventory Prepaid expenses Total current assets Furniture Accumulated depreciation-Furniture Total assets Liabilities and Equity Accounts payable Income taxes payable Wages payable 58,200 64,600 3,600 2,900 154,000 72,600 (11,300) $ 215,300 $ 10,100 6,100 (6,200) $ 194,100 $ 14,300 118,100 82,200 3,400 1,000 1,800 Total current liabilities Notes payable (long-term) Total liabilities Equity Common stock, $5 par value Retained earnings 17,200 19,500 20,700 47,800 37,900 67,300 154,500 124,000 22,900 2,800 . Total liabilities and equity equity $ 215,300 $ 194,100 CRUZ, INCORPORATED Income Statement Sales For Year Ended December 31, 2021 Cost of goods sold Gross profit Operating expenses (excluding depreciation) $ 332,400 213,900 118,500 60,700