Required information Use the following information for the Quick Study below. (Algo) [The following information applies to the questions displayed below.] A comparative balance sheet and income statement is shown for Cruz, Incorporated. 2S 12-26B (Algo) Direct: Computing cash received from customers LO P5 1. How much cash is received from sales to customers for year 2021? Assume all the sales were made on credit basis. 2. What is the net increase or decrease in the Cash account for year 2021? \begin{tabular}{|l|l|} \hline Required 1 Required 2 \\ \hline \end{tabular} How much cash is received from sales to customers for year 2021 ? Assume all the sales were made on credit basis. \begin{tabular}{|l|l|l|l|} \hline \multicolumn{3}{|c|}{ Accounts Receivable } \\ \hline Beginning balance & & & \\ \hline & 0 & & \\ \hline Ending Balance & & & \\ \hline \end{tabular} Complete this question by entering your answers in the tabs below. What is the net increase or decrease in the Cash account for year 2021? QS 12-27B (Algo) Direct: Computing operating cash outflows LO P5 1. How much cash is paid to acquire inventory during year 2021 ? 2. How much cash is paid for operating expenses (excluding depreciation) during year 2021? Hint: Examine prepaid expenses and wages payable. 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. Note: Amounts to be deducted should be indicated with a minus sign