A comparative balance sheet and income statement is shown for Cruz, Inc.

$ 466,600 300,300 166,300 CRUZ, INC. Income Statement For Year Ended December 31, 2019 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense $ 35,900 Other expenses 85,200 Income before taxes Income taxes expense Net income 121,100 45,200 16,500 $ 28,700 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 2019? Notes Payable Beg. bal. Payment on notes payable 66,300 End. bal. 66,300 $ 466,600 300,300 166,300 CRUZ, INC Income Statement For Year Ended December 31, 2019 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense $ 35,900 Other expenses 85.200 Income before taxes Income taxes expense Net income 121,100 45,200 16,500 $ 28,700 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 Beg. bal. 2019 Net income Dividends paid 7,300 28,700 1,000 End. bal. 35,000 $ 466,600 300,300 166,300 CRUZ, INC. Income Statement For Year Ended December 31, 2019 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense $ 35,900 Other expenses 85,200 Income before taxes Income taxes expense Net income 121,100 45,200 16,500 $ 28,700 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 2019? Notes Payable Beg. bal. Payment on notes payable 66,300 End. bal. 66,300 $ 466,600 300,300 166,300 CRUZ, INC Income Statement For Year Ended December 31, 2019 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense $ 35,900 Other expenses 85.200 Income before taxes Income taxes expense Net income 121,100 45,200 16,500 $ 28,700 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 Beg. bal. 2019 Net income Dividends paid 7,300 28,700 1,000 End. bal. 35,000