A comparative balance sheet and income statement is shown for Cruz, Inc. CRUZ, INC. Comparative Balance Sheets December 31, 2019 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accum. depreciation-Furniture Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long-term) Total liabilities 2019 2018 $ 72,900 $ 18,100 31,300 38,400 65,600 72,100 4,000 3,300 173,800 131,900 80,600 93,500 (12,500) (7,100) $241,900 $218,300 $ 11,400 $ 16,100 6,800 3,800 1,200 2,100 19,400 22,000 24,800 55,800 44,200 77,800 170,300 134,800 27,400 5,700 Total liabilities and equity $241,900 $218,300 Equity Common stock, $5 par value Retained earnings Sales CRUZ, INC. Income Statement For Year Ended December 31, 2019 $373,800 240,600 Sales Income statement For Year Ended December 31, 2019 Cost of goods sold Gross profit Depreciation expense Operating expenses Income before taxes Income taxes expense Other expenses Net income $373,800 240,600 133,200 $28,800 68,300 97,100 36,100 13,100 $ 23,000 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 no additional notes payable are issued in 2019. What cash amount is paid to reduce the notes payable balance in 20197 Beg bal End. bal. Notes Payable 0