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. (Cruz Inc.)

P3 8,000 Interest paid. OS 12-11 Indirect: Computing cash from operations P2 CRUZ, ING. Comparative Balance Sheets December 31, 2017 2017 2016 Assets Cash Accounts receivable, net . Inventory Prepaid expenses. Total current assets Furniture Accum. depreciation-Furniture Total assets $ 94800 24,000 41,000 1,000 85,800 9500 4,200 227,000 175,000 109,000 119,000 (17,000) (9,000 $319,000 $285,000 5,400 CRUZ, INC Income Statement For Year Ended December 31, 2017 Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total liabilities. Equity Common stock, $5 par value. Retained earnings S 15,000 21,000 9,000 000 2,600 25,400 28,600 69,000 97,600 $488,000 314,000 174,000 Sales 1,400 Gross profit Operating expenses 29,000 54.400 Depreciation expense.. $37,600 Other expenses... Income before taxes Income taxes expense... 89,100 126,700 47,300 17,300 S 30,000 229,000 179.000 356008,400 319,000 $285,000 Net income 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