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 Prepaid expenses Inventory 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 Retained earnings Total liabilities and equity CRUZ, INCORPORATED Income Statement 2021 2020 $ 85,900 36,900 $ 21,600 77,200 45,800 86,000 4,900 3,900 204,900 157,300 110,500 (8,300) 98,900 (15,300) $ 288,500 $ 13,600 8,100 $ 259,500 $ 19,100 4,300 2,400 1,300 23,000 25,800 26,800 63,700 49,800 89,500 207,600 165,100 31,100 4,900 $ 288,500 $ 259,500 For Year Ended December 31, 2021 Sales Cost of goods sold $ 444,200 285,900 158,300 Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income 81,200 34,200 42,900 15,600 $ 27,300 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 > 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 >