CRUZ, TNCORPORATED Comparative Balance Sheets At December 31 2021 2020 Assets Cash Accounts receivable, net...
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CRUZ, TNCORPORATED Comparative Balance Sheets At December 31 2021 2020 Assets Cash Accounts receivable, net Inventory $72,9031,30$18,1038,400 Prepaid expenses Total current assets \begin{tabular}{rr} 4,00 & 3,300 \\ \hline 173,800 & 131,900 \end{tabular} Furniture 80,60093,500 Equity Common stock, $5 par value Retained earnings Total liabilities and equity \begin{tabular}{rr} 170,300 & 134,800 \\ 27,400 & 5,700 \\ \hline$241,900 & $218,300 \\ \hline \hline \end{tabular} CRUZ, INCORPORATED Income Statement Sales For Year Ended December 31, 2021 $373,800 1. How much cash is paid to acquire inventory during year 2021 ? 2. How much cash is paid for operating expenses (excluding depreciation) during year 2021 ? Hint: Examine prepaid expenses and wages payable
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