A comparative balance sheet and income statement is shown for Cruz, Incorporated 2030 N. $ 24,400 51,700 97,10 4.400 177.600 124,700 (9,400) $ 292,900 CRUZ, INCORPORATED Comparative Balance Sheets At December 31 2021 Assets Cash $ 97,400 Accounts receivable, net 41,800 Inventory 87,490 Prepaid expenses 5,500 Total current assets 232,100 Furniture 111,000 Accumulated depreciation-Furniture (17,200 Total assets $325.900 Liabilities and Equity Accounts payable $ 15.400 Wages payable 9.200 Income taxes payable 1,500 Total current liabilities 26, 100 Notes payable (long-term) 30.900 Total liabilities 57,600 Equity Common stock, 55 par value 232,600 Retained earnings 35,300 $325,900 Total liabilities and equity $ 21,900 4,900 2,700 29,200 71.600 100,700 185,600 6,600 5 292,900 CRUZ, INCORPORATED Income Statement For Year Ended December 31, 2021 5 501,300 32,600 Sales CRUZ, INCORPORATED Income Statement For Year Ended December 31, 2021 Sales Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net Income $50,00 322,600 178,780 91,6ee 38.6ee 43,500 17.789 $ 30,000 1. Assume that all common stock is issued for cash. What amount of cash Lavicends is paid during 20212 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? Retained Earnings Beginning balance Ending balance Required 2 > CRUZ) INCORPORATED Income Statement For Year Ended December 31, 2021 Sales Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net Income $.501,300 322.600 178,790 91,600 38,600 48,500 17,700 $ 39,800 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? Notes Payable Beginning balance 0 Ending balance