17 QS 16-17 Computing financing cash outflows LO P3 3.44 points A comparative balance sheet and income statement is shown for Cruz, Inc. Skipped 2018 eBook CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 Assets Cash $ 69,200 Accounts receivable, net 29,700 Inventory 62,200 Prepaid expenses 3,800 Total current assets 164,900 Furniture 76,600 Accum. depreciation-Furniture (11,900) Total assets $229,600 Liabilities and Equity Accounts payable $ 10,800 Wages payable 6,400 Income taxes payable 1,100 Total current liabilities 18,300 Notes payable (long-term) 22,700 Total liabilities 41,000 Equity Common stock, $5 par value Retained earnings 162,900 25,700 Total liabilities and equity $229,600 $ 17,200 36,500 68,500 3,100 125,300 87,800 (6,700) $206,400 Ask Print $ 15,200 3,600 2,000 20,800 53,100 73,900 References 127,800 4,700 $206,400 CRUZ, INC. Income Statement Yor Year Ended December 31, 2019 Sales $353, 400 Cost of goods sold 227,500 Gross profit 125,900 Operating expenses Depreciation expense $27,200 Other expenses 64,500 91,700 Income before taxes 34,200 Income taxes expense 12,400 Net income $ 21,800 1. Assume that all common stock is issued for cash. What amount of cash dividends is paid during 2019? 2. Assume that no additional notes payable are issued in 2019. What cash amount is paid to reduce the notes payable balance in 2019? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Assume that all common stock is issued for cash. What amount of cash dividends is paid during 2019? Retained Earnings nces Beg. bal End, bl. 0 Required Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Assume that no additional notes payable are issued in 2019. What cash amount is paid to reduce the notes payable balance in 20192 ces Notes Payable Beg, bal End, bal 0