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

CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 2018 Assets $ 64,400 $ 16,200 27,800 34,400 58,200 64,600 3,600 2,900 154,000 118,100 72,600 82,200 (11,300) (6,200) $215,300 $194,100 Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accum. 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 $ 10,100 $ 14,300 6,100 3,400 1,000 1,800 17,200 19,500 20,700 47,800 37,900 67,300 154,500 124,000 22,900 2,800 $215,300 $194,100 Total liabilities and equity CRUZ, INC. Income Statement For Year Ended December 31, 2019 Sales $332,400 Cost of goods sold 213,900 Gross profit 118,500 Operating expenses Depreciation expense $ 25,600 Other expenses 60,700 86,300 Income before taxes 32,200 Income taxes expense 11,800 Net income $ 20,400 Cash flows from operating activities Adjustments to reconcile net income to operating cash flow Income statement items not affecting cash Changes in current operating assets and liabilities