Required information Use the following information for the Quick Study below A comparative balance sheet and income statement is shown for Cruz, Ind. Part 1 of 3 CRUZ, INC Comparative Balance Sheets December 31, 2017 16.66 points 2017 Assets 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 1liabilities Equity Common stock, $5 par value Retained earnings Total liabilities and equity 16,600 35,200 66,100 3,000 120,900 85,000 $ 66,100 28,500 59,700 3,700 158,000 74,600 eBook (11,600 (6,400) $221,000 $199,500 Hint $ 10,400 14,700 3,500 6,300 1,000 17,700 Print 20,100 50,500 70,600 20,700 33 38,400 References 125,000 3,900 $221,000 $199,500 159, 500 23,100 CRUZ, INC Income Statement For Year Ended December 31, 2017 Sales Cost of goods sold Gross profit Operating expenses $341,600 219.800 121,800 Depreciation expense $26,300 62.40 Other expenses Income before taxes Income taxes expense Net income 88,700 33,100 $ 21,000