CRUZ, INC. Comparative Balance Sheets December 31, 2018 2018 2017 $ 73, 200 31, 400 65, 700 4, 100 174, 400 82, 700 (12. 800) $244, 300 $ 18,300 38, 800 72, 800 3, 300 133, 200 93, 500 (7, 100 $219,600 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 Retained earnings Total liabilities and equity $ 11, 500 6, 800 1, 100 19,400 22, 700 42, 100 $ 16, 200 3,800 2. 100 22, 100 55, 700 77, 800 173, 100 29, 100 $244, 300 134, 500 7, 300 $219, 600 $ 375, 900 241, 900 134, 000 CRUZ, INC. Income Statement For Year Ended December 31, 2018 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense $ 28, 900 Other expenses 68, 600 Income before taxes Income taxes expense Net income 97,500 36,500 13, 300 $ 23, 200 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? 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 2018? Retained Earnings Beg. bal. End. bal. 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? Complete this question by entering your answers in the tabs below. 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? Notes Payable Beg. bal. End. bal.