Question: Saved A comparative balance sheet and income statement is shown for Cruz, Inc. CRUZ, INC Comparative Balance Sheets December 31, 2017 2016 Assets Cash Accounts

Saved A comparative balance sheet and income statement is shown for Cruz, Inc. CRUZ, INC Comparative Balance Sheets December 31, 2017 2016 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accum. depreciation-Furniture Total assets $94,800 24,000 ,000 85,800 95,800 4,200 227,000 175, 000 109,000 119,000 41,000 51 ,400 (17,000)(9,000) $319,000 $285,000 Liabilities and Equity Accounts payable Wages payable Income taxes payable Tptal current liabilities Notes payable (long-term) Total liabilities Equity Common stock, $5 par value Retained earnings 15,000 21,000 9,000 1,400 25,400 29,000 5,000 2,600 28,600 69,000 54,40097.600 229,000 179,000 35,6008,400 $319,000 $285,000 Total liabilities and equity CRUZ, INC. Income Statement For Year Ended December 31, 2017 $488,000 314,000 174,000 Sales Cost of goods sold Gross profit Operating expenses $37,600 Depreciation expense 89,100 126,700 47,300 17,300 Other expenses Income before taxes Income taxes expense Net income 30,000 So Furniture costing $55,000 is sold at its book value in 2017. Acquistions of furniture total $45,000 cash, on which no necessary because it is acquired at year-end. W hat is the cash inflow related to the sale of furniture? Furniture End. bal ulated Beg. bal. End. bal. Cost Score
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