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QS 12-14B Refer to data...

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Accounting

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QS 12-14B

Refer to data in QS 12-11.

1. How much cash is received from sales to customers for year 2017?

2. What is the net increase or decrease in cash for year 2017?

CRUZ, INC. Comperative Balance Sheets December 31, 2017 S 12.11 ndirect: Computing cash rom operations P2 2017 2016 Assets Cash Accounts recevable, net nventory Prepaid expenses. Total current assets. Furniture Accom, depreciation-Funiture17.000 Total assets Liabilities and Equity Accounts payobie Wages payable Income taxes payable . , Total current liabilibies Notes payable pong-term) otal labiities Equity Common stock $5 par value Retained earnings Total iabilities and equity 94.800 24000 1.000 5100 5.200 85,200 5.400 227,000 5000 109,000 90 319000 285.000 CRUZ, INC Income Statement For Year Ended December 31, 2017 15,000 21,000 9,000 1,400 Sales Cost of goods soid Gross profit Operating expenses $488,000 314,000 174,000 5.40028600 54 40 Depreciation expense $37,600 89,100 126,700 47,300 17,300 5 30.000 Other espenses income before taxes income toes expense. Net income 29.0009,000 3190 285000 Required Use the indirert method to prepare the cash provided o statement of cash flows for this company or used from operating activities section only of the

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