This is a 3 part question.

1) For the first one, I need clarification that my Req.1 is right and I need help on the Req.2

2) I need it completed and answered. The items that I have already typed I have no idea if they are right or not.

3) I need to know how to find dividends.

A comparative balance sheet and income statement is shown tor Cruz, Inc. 2017 CRUZ, INC. Comparative Balance Sheets December 31, 2018 2018 Assets Cash $ 72,900 Accounts receivable, net 31,300 Inventory 65,600 Prepaid expenses 4,000 Total current assets 173,800 Furniture 80,600 Accum. depreciation,Furniture (12,500) Total assets $241,900 Liabilities and Equity Accounts payable $ 11,400 Wages payable 6,800 Income taxes payable 1,200 Total current liabilities 19,400 Notes payable (long-term) 24,800 Total liabilities 44,200 Equity Common stock, $5 par value 170,300 Retained earnings 27,400 Total liabilities and equity $241,900 $ 18,100 38,400 72,100 3,300 131,900 93,500 (7,100) $218,300 $ 16,100 3,800 2,100 22,000 55,800 77,800 134,800 5,700 $218,300 CRUZ, INC. Income Statement For Year Ended December 31, 2018 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 $ 23,000 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? Beg. bal. Retained Earnings 5,700 23,000 2018 Net income 21,700 7,000 Dividends receivable End. bal. Required 1 Required 2 > Complete this question by entering your answers in the tabs below. Required 1 l Required 2 Assume that no additional notes payable are issued in 2018. What cash amount is paid to reduce the notes 2018? Notes Payable Beg. bal. End. bal. The following financial statements and additional information are reported. 2017 IKIBAN INC. Comparative Balance Sheets June 30, 2018 and 2017 2018 Assets Cash $ 86,300 Accounts receivable, net 68,000 Inventory 65,800 Prepaid expenses 4,600 Total current assets 224,700 Equipment 126,000 Accum. depreciation-Equipment (28,000) Total assets $322,700 Liabilities and Equity Accounts payable $ 27,000 Wages payable 6, 200 Income taxes payable 3,600 Total current liabilities 36,800 Notes payable (long term) 32,000 Total liabilities 68,800 Equity Common stock, $5 par value 224,000 Retained earnings 29,900 Total liabilities and equity $322,700 $ 46,000 53,000 89,500 5,800 194,300 117,000 (10,000) $301,300 $ 33,000 15,400 4,200 52,600 62,000 114,600 162,000 24,700 $301,300 IKIBAN INC. Income Statement For Year Ended June 30, 2018 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense $60,600 Other expenses 69,000 Total operating expenses $ 688,000 413,000 275,000 129,600 145,499 IKIBAN INC. Income Statement For Year Ended June 30, 2018 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense $60,600 Other expenses 69,000 Total operating expenses $ 688,000 413,000 275,000 129,600 145,400 Other gains (losses) Gain on sale of equipment Income before taxes Income taxes expense Net income 2,200 147,600 44,090 $ 103,510 Additional Information a. A $30,000 note payable is retired at its $30,000 carrying (book) value in exchange for cash. b. The only changes affecting retained earnings are net income and cash dividends paid. c. New equipment is acquired for $59,600 cash. d. Received cash for the sale of equipment that had cost $50,600, yielding a $2,200 gain. e. Prepaid Expenses and Wages Payable relate to Other Expenses on the income statement. f. All purchases and sales of inventory are on credit. IKIBAN, INC. Statement of Cash Flows (Indirect Method) For Year Ended June 30, 2018 Cash flows from operating activities Net income $ 103,510 Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Depreciation expense 60,600 Cash received from sale of equipment Changes in current operating assets and liabilities Increase in accounts receivable Increase in inventory Decrease in accounts payable Decrease in wages payable (15,000) (23,700) (6,000) (9,200) 110,210 Cash flows from investing activities Cash flows from financing activities Cash flows from financing activities $ 110,210 Net increase (decrease) in cash Cash balance at prior year-end Cash balance at current year-end $ 110,210 The following selected information is from Princeton Company's comparative balance sheets. At December 31 Common stock, $10 par value Paid-in capital in excess of par Retained earnings 2018 2017 $ 114,000 $ 106,000 573,000 345,000 319,500 293,500 The company's net income for the year ended December 31, 2018, was $51,000. 1. Complete the T-accounts to calculate the cash received from the sale of its common stock during 2018. 2. Complete the T-account to calculate the cash paid for dividends during 2018. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the T-account to calculate the cash paid for dividends during 2018. Beg. bal. Retained Earnings 293,500 51,000 2018 Net income 26,000 318,500 2018 dividends End. bal. Common stock, $10 par value Paid-in capital in excess of par Retained earnings $ 114,000 $ 106,000 573,000 345,000 319,500 293,500 The company's net income for the year ended December 31, 2018, was $51,000. 1. Complete the T-accounts to calculate the cash received from the sale of its common stock during 2018. 2. Complete the T-account to calculate the cash paid for dividends during 2018. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the T-accounts to calculate the cash received from the sale of its common stock during 2018. Beg. bal. Issuance of common stock Common Stock, $10 Par 106,000 8,000 End. bal. 114,000 Beg. bal. Issuance of common stock Paid-in Capital in Excess of Par 345,000 | 228,000 End. bal. 573,000 Cash received $ 236,000