A comparative balance sheet and income statement is shown for Cruz, Incorporated. CRUZ, INCORPORATED Comparative Balance Sheets At December 31 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accumulated depreciation-Furniture Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long-term) Total liabilities Equity Common stock, $5 par value 2021 2020 $ 63,600 $ 15,900 27,400 33,700 57,400 63,300 3,500 2,900 151,900 115,800 70,500 82,200 (10,900) (6,200) $ 211,500 $ 10,000 6,000 $191,800 $ 14,100 3,300 1,800 1,000 17,000 19,200 20,700 47,800 37,700 67,000 153,600 Retained earnings 20,200 124,000 800 Total liabilities and equity $ 211,500 $ 191,800 CRUZ, INCORPORATED Income Statement For Year Ended December 31, 2021 Sales 328,400 Cost of goods sold 211,300 Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes 117,100 60,000 25,300 31,800 Income taxes expense 11,600 $ 20,200 Net income 1. Assume that all common stock is issued for cash. What amount of cash dividends is paid during 2021? 2. Assume that no additional notes payable are issued in 2021. What cash amount is paid to reduce the notes payable balance in 2021? 1. Assume that all common stock is issued for cash. What amount of cash dividends is paid during 2021? 2. Assume that no additional notes payable are issued in 2021. What cash amount is paid to reduce the notes payable balance in 2021? 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 2021? Beginning balance Retained Earnings Ending balance Required 1 Required 2 > 1. Assume that all common stock is issued for cash. What amount of cash dividends is paid during 2021? 2. Assume that no additional notes payable are issued in 2021. What cash amount is paid to reduce the notes payable balance 2021? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Assume that no additional notes payable are issued in 2021. What cash amount is paid to reduce the notes payable balance in 2021? Beginning balance Notes Payable Ending balance. < Required 1 Required 2 >