ces A comparative balance sheet and income statement is shown for Cruz, Inc CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 2018 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accum. 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 $ 62,700 27,000 $ 15,700 33,300 56,600 62,500 3,500 2,900 149,800 114,400 70,500 82,200 (10,900) (6,200) $209,400 $190,400 $ 9,900 $ 14,000 5,900 3,300 1,000 1,800 16,800 19,100 20,700 47,800 37,500 66,900 152,200 123,000 Retained earnings 19,700 500 Total liabilities and equity $209,400 $190,400 CRUZ, INC. Income Statement For Year Ended December 31, 2019 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense Other expenses Income before taxes Income taxes expense Net income $326,000 209,800 116,200 $25,100 59,500 84,600 31,600 11,500 $20,100 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?