Required information Use the following information for the Quick Study below. [The following information applies to the questions displayed below! A comparative balance sheet and income statement is shown for Cruz, Inc 2016 $ 25,00 53,100 99,700 CRUE, INC. Comparative Balance Sheets December 31, 2017 2017 Assets Cash $ 99,000 Accounts receivable, net 42,800 Inventory 89,600 Prepaid expenses 5.600 Total current assets 237,000 Furniture 113,000 Accum. depreciation Furniture 17,600) Total assets $332,400 Liabilities and Equity Accounts payable $ 15,600 veges payable 9,480 Income taxes payable 1,500 Total current liabilities 26,500 Notes payable (long-term) 31, 10e Total liabilities 57,600 Equity Common stock, 55 par value 238,600 Retained earnings 36,200 Total liabilities and equity 5332,400 182,200 124,700 (9.400) $297,500 $ 21,900 5,200 2,700 29,800 65.780 95,500 190,000 12,080 5297,500 CRUE, DC Income Statement For Year Ended December 31, 2017 Soles 5509,400 Cost of goods sold 327 880 Gross profit 101.600 Operating expenses Depreciation expense 539,200 Other expenses 92.000 132.100 Tacone before taxes Income taxes expense 10.100 1,400 92,900 Other expenses Income before taxes Income taxes expense Net income 132, 100 49,500 18,100 $ 31,400 QS 12-11 Indirect: Computing cash from operations LO P2 Required: Use the indirect method to prepare the cash provided or used from operating activities section only of the statement of cash flows for this company. (Amounts to be deducted should be indicated with a minus sign.) 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 2 3 4