Check my work 2017 Part 3 of 3 1.13 points CRUZ, INC. Comparative Balance Sheets December 31, 2018 2018 Assets Cash $ 62,700 Accounts receivable, net 27,000 Inventory 56,600 Prepaid expenses 3,500 Total current assets 149,800 Furniture 70,500 Accum. depreciation Furniture (10,900) Total assets $209,400 Liabilities and Equity Accounts payable $ 9,900 Wages payable 5,900 Income taxes payable 1,000 Total current liabilities 16,800 Notes payable (long-term) 20,700 Total liabilities 37,500 Equity Common stock, $5 par value 152,200 Retained earnings 19,700 Total liabilities and equity $209,400 $ 15,700 33, 300 62,500 2,900 114,400 82,200 (6, 200) $190,400 eBook $ 14,000 3,300 1,800 19,100 47,800 66,900 Hint 123,000 500 $ 190,400 Print References CRUZ, INC. Income Statement For Year Ended December 31, 2018 Sales $326,000 Cost of goods sold 209,800 Gross profit 116,200 Operating expenses Depreciation expense $25,100 Other expenses 59,500 84,600 Income before taxes 31,600 Income taxes expense 11,500 Net income $ 20,100 Check my work $ 25,100 59,500 Depreciation expense Other expenses Income before taxes Income taxes expense Net income 84,600 31,600 11,500 $ 20,100 Part 3 of 3 1.13 points 1. Assume that all common stock is issued for cash. What amount of cash dividends is paid during 2018? 2. Assume that no additional notes payable are issued in 2018. What cash amount is paid to reduce the notes payable balance in 2018? eBook Complete this question by entering your answers in the tabs below. Hint Required 1 Required 2 Assume that all common stock is issued for cash. What amount of cash dividends is paid during 2018? Print Retained Earnings Beg. bal. References End. bal. Required 1 Required 2 > Check my work - --- --- - ---- -- $ 25, 100 59,500 Depreciation expense Other expenses Income before taxes Income taxes expense Net income 84,600 31,600 11,500 $ 20,100 Part 3 of 3 1.13 points 1. Assume that all common stock is issued for cash. What amount of cash dividends is paid during 2018? 2. Assume that no additional notes payable are issued in 2018. What cash amount is paid to reduce the notes payable balance in 2018? eBook Complete this question by entering your answers in the tabs below. Hint Required 1 Required 2 Assume that no additional notes payable are issued in 2018. What cash amount is paid to reduce the notes payable balance in 2018? Print Notes Payable References Beg. bal. End. bal.