QS 16-25B Direct: Computing cash received from customers LO P5 2018 CRUZ INCH Comparative Balance Sheets December 31, 2019 2019 Assets Cash $ 85,600 Accounts receivable, net 36,800 Inventory 77,100 Prepaid expenses 4,700 Total current assets 204,200 Furniture 94,700 Accum. depreciation-Furniture (14,700) Total assets $284,200 Liabilities and Equity Accounts payable $ 13,400 Wages payable 8,000 Income taxes payable 1,400 Total current liabilities 22,800 Notes payable (long-term) 28,900 Total liabilities 51,700 Equity Common stock, $5 par value 204,000 Retained earnings 28,500 Total liabilities and equity $ 284,200 $ 21,300 45,200 84,900 3,900 155,300 110,500 (8.400) $ 257,400 $ 19,000 4,500 2,500 26,000 66,400 92,400 162,300 2,700 $257,400 CRUX, INC. Income Statement For Year Ended December 31, 2019 Sales $440,700 Cost of goods sold 283,700 Gross profit 157,000 Operating expenses Depreciation expense $33,900 Other expenses BO, 400 114,300 Income before taxes 42,700 Income taxes expense 15,500 Net income $ 27,200 1. How much cash is received from sales to customers for year 2019? Assume all the sales were made on credit basis. 2. What is the net increase or decrease in cash for year 2019? Complete this question by entering your answers in the tabs below. Required 1 Required 2 How much cash is received from sales to customers for year 2019? Assume all the sales were made on credit basis. Accounts Receivable Bogbal. End, bal 0 1. How much cash is received from sales to customers for year 2019? Assume all the sales were made on credit basis. 2. What is the net increase or decrease in cash for year 2019? Complete this question by entering your answers in the tabs below. Required 1 Required 2 What is the net increase or decrease in cash for year 2019