The last person that did it didn't take the time to do it thoroughly. I still didn't understand it; please help me understand this.

QS 16-17 Computing financing cash outflows LO P3 A comparative balance sheet and income statement is shown for Cruz, Inc. 2018 CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 Assets Cash $ 94,800 Accounts receivable, net 41,000 Inventory 85,800 Prepaid expenses 5,400 Total current assets 227,000 Furniture 109,000 Accum. depreciation Furniture (17,000) Total assets $319,000 Liabilities and Equity Accounts payable $ 15,000 Wages payable 9,000 Income taxes payable 1,400 Total current liabilities 25, 400 Notes payable long-term) 29,000 Total liabilities 54,400 Equity Common stock, $5 par value 229,000 Retained earnings 35,600 Total liabilities and equity $319,000 $ 24,000 51,000 95, 800 4,200 175,000 119,00 {9,000) $285,000 $ 21,000 5,000 2, 600 28,600 69,000 97,600 179,000 8, 400 $285,000 CRUZ, INC Income Statement For Year Ended December 31, 2019 Sales $488,000 Cost of goods sold 314,000 Gross profit 174,000 Operating expenses Depreciation expense $37,600 Other expenses 89,100 126,700 Income before taxes 47.300 Income taxes expense 17.300 Net income $ 30,000 1. Assume that all common stock is issued for cash. What amount of cash dividen nhl herrin 100 cm 3 ts CRUZ, INC Income Statement For Year Ended December 31, 2019 Sales $488,000 Cost of goods sold 314,000 Gross profit 174,000 Operating expenses Depreciation expense $37,600 Other expenses 89, 100 126,700 Income before taxes 47, 300 Income taxes expense 17,300 Net income $ 30,000 eBook eferences 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 2019? Notes Payable Beg, bal Notes payable issued Payment on notes payable End. bal 0