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A comparative balance sheet and income statement is shown for Cruz, Incorporated.
CRUZ, INCORPORATED
Comparative Balance Sheets
At December 31 2021 2020
Assets Cash $ 72,900 $ 18,100
Accounts receivable, net 31,300 38,400
Inventory 65,600 72,100
Prepaid expenses 4,000 3,300
Total current assets 173,800 131,900
Furniture 80,600 93,500
Accumulated depreciation—Furniture (12,500) (7,100)
Total assets $ 241,900 $ 218,300
Liabilities and Equity Accounts payable $ 11,400 $ 16,100
Wages payable 6,800 3,800
Income taxes payable 1,200 2,100
Total current liabilities 19,400 22,000
Notes payable (long-term) 24,800 55,800
Total liabilities 44,200 77,800
Equity Common stock, $5 par value 170,300 134,800
Retained earnings 27,400 5,700
Total liabilities and equity $ 241,900 $ 218,300
CRUZ, INCORPORATED
Income Statement
For Year Ended December 31, 2021
Sales $ 373,800
Cost of goods sold 240,600
Gross profit 133,200
Operating expenses (excluding depreciation) 68,300
Depreciation expense 28,800
Income before taxes 36,100
Income taxes expense 13,100
Net income $ 23,000
1. How much cash is received from sales to customers for year 2021? Assume all the sales were made on credit basis.
2. What is the net increase or decrease in the Cash account for year 2021?