Use the following information for the Quick Study below. A comparative balance sheet and income statement is shown for Cruz, Inc. 2016 QS 16-12 Computing cash from asset sales LO P3 CRUZ, 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 Wages payable 9,400 Income taxes payable 1,500 Total current liabilities 26,500 Notes payable (long-term) 31,100 Total liabilities 57,600 Equity Common stock, $5 par value 238,600 Retained earnings 36,200 Total liabilities and equity $332,400 $ 25,000 53,100 99,700 4,400 182,200 124,700 (9,400) $297,500 Furniture costing $57.700 is sold at its book value in 2017. Acquisitions of furniture total $46.000 cash, on which no depreciation is necessary because it is acquired at year-end. What is the cash inflow related to the sale of furniture? Fumiture Beg, bal $ 21,900 5,200 2,700 29,800 65,700 95,500 End, bal 190,000 12,000 $297,500 Accumulated Depreciation Beg, bal End, bal CRUZ, INC. Income Statement For Year Ended December 31, 2017 Sales $509,400 Cost of goods sold 327,800 Gross profit 181,600 Operating expenses Depreciation expense $39,200 Other expenses 92,900 132, 100 Income before taxes 49,500 Income taxes expense 18,100 Net income $ 31,400 Cost Accumulated depreciation Book value (Cash received)