A comparative balance sheet and income statement is shown for Cruz, Incorporated. 2020 CRUZ, INCORPORATED Comparative Balance Sheets At December 31 2021 Assets Cash $ 94,800 Accounts receivable, net 41,000 Inventory 85,800 Prepaid expenses 5,400 Total current assets 227,000 Furniture 109,000 Accumulated depreciation-Furniture (17,000) Total assets $ 319,000 Liabilities and Equity Accounts payable $ 15,000 Wages payable 9,000 Income taxes payable 1,400 Total current liabilities 25,400 Notes payable (long-term) 29,000 Total liabilities 54,400 Equity Common stock, $5 par value 229,000 Retained earnings 35,600 Total liabilities and equity $ 319,000 $ 24,000 51,000 95,800 4,200 175,000 119,000 (9,000) $ 285,000 $ 21,000 5,000 2,600 28,600 69,000 97,600 179,000 8,400 $ 285,000 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 $ 488,000 314,090 174,000 89, 100 37,600 47,300 17,300 $ 30,000 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.) $ 30,000 $ 37,600 Cash flows from operating activities Net Income Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Depreciation Changes in current operating assets and liabilities Accounts receivable decrease Inventory decrease Prepaid expense increase Accounts receivable decrease Income taxes payable decrease 10,000 10,000 (1,200 (6,000) (1,200) Income taxes payable decrease Net cash provided by operating activities 49,200 79,200 $