Delta, Inc. comparative balance sheet and income statement are shown below: 2018 $ 22,700 48,100 90,300 4,100 165,200 116,200 DELTA, INC. Comparative Balance Sheets December 31, 2019 2019 Assets Cash $ 90,700 Accounts receivable, net 38,900 Inventory 81,300 Prepaid expenses 5,100 Total current assets 216,000 Furniture 102,900 Accum. depreciation-Furniture (15,900) Total assets Liabilities and Equity Accounts payable $ 14,300 Wages payable 8,500 Income taxes payable 1,400 Total current liabilities 24,200 Notes payable (long-term) 28,800 Total liabilities 53,000 Equity Common stock, $5 par value 215,100 Retained earnings 34,900 Total liabilities and equity $303,000 $303,000 (8,800) $ 272,600 $ 20,000 4,600 2,500 27,100 66,300 93,400 171,900 7,300 $272,600 DELTA, INC. Income Statement For Year Ended December 31, 2019 Sales $466,600 Cost of goods sold 300,300 Gross profit 166,300 Operating expenses Depreciation expense $35,900 Other expenses 85,200 121,100 Income before taxes 45,200 Income taxes expense 16,500 Net income $ 28,700 1. Calculate the amount of cash dividends paid during 2019, assuming that all common stock is issued for cash. 2. Calculate the cash amount paid to decrease the notes payable in 2019, assuming that no additional notes payable are issued 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 2019? Retained Earnings Beg. bal. End. bal. 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 2019? Notes Payable Beg. bal. End. bal.