A comparative balance sheet and income statement is shown for Cruz, Inc. 2018 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 Furniture 92,800 Accum. depreciation-Furniture (14,400) Total assets $275,600 Liabilities and Equity Accounts payable $ 13,000 Wages payable 7,700 Income taxes payable 1,300 Total current liabilities 22,000 Notes payable (long-tera) 26,800 Total liabilities 48,800 Equity Common stock, $5 par value 198,800 Retained earnings 28,000 Total liabilities and equity $275,600 $ 20,600 43,700 82,000 3,700 150,000 184,800 (8,000) 246,800 $ 18,200 4.300 2,400 24,900 63,700 88,600 155,300 2,900 $ 246,800 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 77,100 109,600 Income before taxes 41,000 Income taxes expense 14,900 Net income $ 26,100 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 bala 2019? Required 1 Required 2 Assume that all common stock is issued for cash. What amount of cash dividends is pai Retained Earnings Beg. bal. End, bal Ged Required 2 > 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 balan 2019? 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 Notes Payable Beg bal. End. bal. Required 1