Use the following information for the Quick Study below.

A comparative balance sheet and income statement is shown for Cruz, Inc.

CRUZ, INC. Comparative Balance Sheets December 31, 2017
		2017				2016
Assets
Cash	$	73,200			$	18,300
Accounts receivable, net		31,400				38,800
Inventory		65,700				72,800
Prepaid expenses		4,100				3,300
Total current assets		174,400				133,200
Furniture		82,700				93,500
Accum. depreciationFurniture		(12,800	)			(7,100	)
Total assets	$	244,300			$	219,600
Liabilities and Equity
Accounts payable	$	11,500			$	16,200
Wages payable		6,800				3,800
Income taxes payable		1,100				2,100
Total current liabilities		19,400				22,100
Notes payable (long-term)		22,700				55,700
Total liabilities		42,100				77,800
Equity
Common stock, $5 par value		173,100				134,500
Retained earnings		29,100				7,300
Total liabilities and equity	$	244,300			$	219,600

CRUZ, INC. Income Statement For Year Ended December 31, 2017
Sales				$	375,900
Cost of goods sold					241,900
Gross profit					134,000
Operating expenses
Depreciation expense	$	28,900
Other expenses		68,600			97,500
Income before taxes					36,500
Income taxes expense					13,300
Net income				$	23,200

QS 16-11 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
		0
		$0