A comparative balance sheet and income statement is shown for Cruz, Inc. 2018 CRUZ, INC. Comparative Balance Sheets December 31, 2019 2019 Assets Cash $ 85,900 Accounts receivable, net 36,99 Inventory 77,200 Prepaid expenses 4,900 Total current assets 204,900 Furniture 98,900 Accum. depreciation-Furniture (15,300) Total assets $288,500 Liabilities and Equity Accounts payable $ 13,600 Wages payable 8,100 Income taxes payable 1,300 Total current liabilities 23,000 Notes payable (long-term) 26,800 Total liabilities 49,800 Equity Common stock, $5 par value 207,600 Retained earnings 31,100 Total liabilities and equity $288,500 $ 21,600 45,800 86,000 3,900 157,300 110,500 (8,300) $ 259,500 $ 19,100 4,300 2,400 25,800 63,700 89,500 165,100 4,900 $ 259,500 CRUZ, INC. Income Statement For Year Ended December 31, 2019 Sales $444,200 Cost of goods sold 285,900 Gross profit 158,300 Operating expenses Depreciation expense $34,200 Other expenses 81,200 115,400 Income before taxes 42,900 Income taxes expense 15,600 Net income $ 27,300 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 2019? Retained Earnings Beg. bal. End. bal.