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begin{tabular}{|c|c|c|} hline CRUZ,INCORPORComparativeBalanc & EDSheets2021 & 2020 hline multicolumn{3}{|l|}{ Assets } hline Cash & $75,900 & $18,900 hline Accounts receivable, net &
\begin{tabular}{|c|c|c|} \hline CRUZ,INCORPORComparativeBalanc & EDSheets2021 & 2020 \\ \hline \multicolumn{3}{|l|}{ Assets } \\ \hline Cash & $75,900 & $18,900 \\ \hline Accounts receivable, net & 32,600 & 40,100 \\ \hline Inventory & 68,300 & 75,300 \\ \hline Prepaid expenses & 4,200 & 3,500 \\ \hline Total current assets & 181,000 & 137,800 \\ \hline Furniture & 84,600 & 99,200 \\ \hline Accumulated depreciation-Furniture & (13,100) & (7,500) \\ \hline Total assets & $252,500 & $229,500 \\ \hline \multicolumn{3}{|l|}{ Liabilities and Equity } \\ \hline Accounts payable & $11,900 & $16,900 \\ \hline Wages payable & 7,100 & 4,000 \\ \hline Income taxes payable & 1,200 & 2,200 \\ \hline Total current liabilities & 20,200 & 23,100 \\ \hline Notes payable (long-term) & 24,800 & 58,400 \\ \hline \multirow{2}{*}{\multicolumn{3}{|c|}{ Equity }} \\ \hline & & \\ \hline Common stock, \$5 par value & 177,300 & 141,500 \\ \hline Retained earnings & 30,200 & 6,500 \\ \hline Total liabilities and equity & $252,500 & $229,500 \\ \hline \multicolumn{3}{|c|}{CRUZ,INCORPORATEDIncomeStatementarEndedDecember31,2021} \\ \hline \multicolumn{2}{|l|}{ Sales } & $392,900 \\ \hline \multicolumn{2}{|l|}{ Cost of goods sold } & 252,900 \\ \hline \multicolumn{2}{|l|}{ Gross profit } & 140,000 \\ \hline \multicolumn{2}{|c|}{ Operating expenses (excluding depreciation) } & 71,600 \\ \hline \multicolumn{2}{|c|}{ Depreciation expense } & 30,200 \\ \hline \multicolumn{2}{|l|}{ Income before taxes } & 38,200 \\ \hline \multicolumn{2}{|l|}{ Income taxes expense } & 13,900 \\ \hline \multicolumn{2}{|l|}{ Net income } & $24,300 \\ \hline \end{tabular} 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? Answer is not complete. Complete this question by entering your answers in the tabs below. 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 note 2021
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