Question: A comparative balance sheet and income statement is shown for Cruz, Incorporated Requlred Informatlon [The following information applies to the questions displayed below.] A comparative

A comparative balance sheet and income statement is shown for Cruz, Incorporated

Requlred Informatlon [The following information applies to the questions displayed below.] A comparative balance sheet and income statement is shown for Cruz, Incorporated. 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. (Amounts to be deducted should be Indlcated with o minus slgn.)

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