..........

CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 2018 Assets Cash $ 72,900 $ 18 , 100 Accounts receivable, net 31, 300 38, 400 Inventory 65, 600 72, 100 Prepaid expenses 4,000 3,300 Total current assets 173, 800 131,900 Furniture 80, 600 93,500 Accum. depreciation-Furniture (12, 500) (7, 100) Total assets $241 , 900 $218, 300 Liabilities and Equity Accounts payable $ 11, 400 $ 16, 100 Wages payable 6, 800 3,800 Income taxes payable 1, 200 2, 100 Total current liabilities 19, 400 22,000 Notes payable (long-term) 24,800 55, 800 Total liabilities 44, 200 77,800 Equity Common stock, $5 par value 170, 300 134, 800 Retained earnings 27,400 5, 700 Total liabilities and equity $241, 900 $218, 300 CRUZ, INC. Income Statement For Year Ended December 31, 2019 Sales $373, 800 Cost of goods sold 240, 600 Gross profit 133, 200 Operating expenses Depreciation expense $28, 800 Other expenses 68, 300 97, 100 Income before taxes 36, 100 Income taxes expense 13, 100 Net income $ 23,0001. Assume that all common stool-c 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 entuerlng your aware In the tabs below. Required 1 Required 2 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 enterlng your answers In the tabs below. Required 1 Required 2 Assume that no additional notes payable are issued In 2019. what cash amount ls paid to reduce the notes payable balance In 2019? End. bal