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

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?

Assume that all common stock is issued for cash. What amount of cash dividends is paid during 2021? Assume that no additional notes payable are issued in 2021. What cash amount is paid to reduce the notes payable balance in 2021