A comparative balance sheet and income statement is shown for Cruz, Inc. CRUZ, INC. Comparative Balance Sheets December 31, 2017
2017 2016 Assets Cash $ 64,400 $ 16,200 Accounts receivable, net 27,800 34,400 Inventory 58,200 64,600 Prepaid expenses 3,600 2,900 Total current assets 154,000 118,100 Furniture 72,600 82,200 Accum. depreciation—Furniture (11,300 ) (6,200 ) Total assets $ 215,300 $ 194,100 Liabilities and Equity Accounts payable $ 10,100 $ 14,300 Wages payable 6,100 3,400 Income taxes payable 1,000 1,800 Total current liabilities 17,200 19,500 Notes payable (long-term) 20,700 47,800 Total liabilities 37,900 67,300 Equity Common stock, $5 par value 154,500 124,000 Retained earnings 22,900 2,800 Total liabilities and equity $ 215,300 $ 194,100 CRUZ, INC. Income Statement For Year Ended December 31, 2017 Sales $ 332,400 Cost of goods sold 213,900 Gross profit 118,500 Operating expenses Depreciation expense $ 25,600 Other expenses 60,700 86,300 Income before taxes 32,200 Income taxes expense 11,800 Net income $ 20,400 Furniture costing $56,600 is sold at its book value in 2017. Acquisitions of furniture total $47,000 cash, on which no depreciation is necessary because it is acquired at year-end. What is the cash inflow related to the sale of furniture? rev: 02_19_2019_QC_CS-159605
