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QS 12-26B Direct: Computing operating cash outflows LO P5 2018 skipped CRUZ, INC Comparative Balance Sheets December 31, 2019 2019 Assets Cash $ 82,800 Accounts receivable, net 35,500 Inventory 74,300 Prepaid expenses 4,600 Total current assets 197,200 Furniture 92,800 Accum. depreciation-Furniture (14,400) Total assets $275,680 Liabilities and Equity Accounts payable $ 13,000 Wages payable 7,700 Income taxes payable 1,300 Total current liabilities 22,000 Notes payable (long-term) 26,800 Total liabilities 48,800 Equity Common stock. $5 par value 198,800 Retained earnings 28,000 Total abilities and equity $275,600 $ 20,600 43,700 82,00 3,700 150,000 104,800 (8,000) $246,800 eBook Hint Print $ 18,200 4,300 2,400 24,988 63,700 88,600 155,300 2,988 $246,890 References CRUZ, INC. Income Statement For Year Ended December 31, 2019 Sales $422,500 Cost of goods sold 271,900 Gross profit 150,600 Operating expenses Depreciation $ expense 32,500 Other expenses 77,100 109,500 Income before taxes 41,000 Income taxes expense 14,900 Net income $ 26,100 1. How much cash is paid to acquire Inventory during year 2019? 2. How much cash is paid for other expenses" during year 2019? Hint: Examine prepaid expenses and wages payable. es CRUZ, INC. Income Statement For Year Ended December 31, 2019 Sales $422,500 Cost of goods sold 271,900 Gross profit 150,600 Operating expenses Depreciation 32,500 expense Other expenses 77,108 109,600 Income before taxes 41,800 Income taxes expense 14,900 Net income $ 26,100 1. How much cash is paid to acquire inventory during year 2019? 2. How much cash is paid for other expenses" during year 2019? Hint: Examine prepaid expenses and wages payable. 1 Cash paid for inventory Cash paid for other oxpenses 2

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