A comparative balance sheet and income statement is shown for Cruz, Incorporated. CRUZ, INCORPORATED Comparative Balance Sheets 2021 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 Income taxes payable Total current liabilities Notes payable (long-term) Total liabilities Equity Common stock, $5 par value Retained earnings Total liabilities and equity $ 66,100 28,500 59,700 3,700 Sales Cost of goods sold Gross profit 158,000 74,600 (11,600) $ 221,000 $ 10,400 6,300 1,000 17,700 20,700 38,400 159,500 23,100 $ 221,000 CRUZ, INCORPORATED Income Statement For Year Ended December 31, 2021 Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income 2020 $ 16,600 35,200 66,100 3,000 120,900 85,000 (6,400) $ 199,500 $ 14,700 3,500 1,900 20,100 50,500 70,600 125,000 3,900 $ 199,500 $ 341,600 219,800 121,800 62,400 26,300 33,100 12,100 $ 21,000 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. Note: Amounts to be deducted should be indicated with a minus sign. Cash flows from operating activities