CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 2018 rt $ 85,600 36,800 BE77,100 4,700 204,200 94,700 (14,700) $ 284,200 $ 21,300 45,200 84,900 3,900 155,300 110,500 (8,400) $257,400 Assets Cash Accounts receivable, Inventory Prepaid expenses Total current assets Furniture Accum. depreciation-Furni 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 $ 13,400 8,000 1,400 22,800 28,900 51,700 $ 19,000 4,500 2,500 26,000 66,400 92,400 51,700 204,000 28,500 $284,200 162,300 2,700 $257,400 CRUZ, INC. Income Statement For Year Ended December 31, 2019 Sales $440,700 Cost of goods sold 283,700 Gross profit 157,000 Operating expenses Depreciation expense $33,900 Other expenses 80,400 114,300 Income before taxes 42,700 Income taxes expense 15,500 Net income $ 27,200 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? 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 20192 Retained Earnings Beg bal 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? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Assume that no additional notes payable are issued in 2019. What cash amount is paid to reduce the notes payable balance in 20197 Notes Payable Beg bal End bal