A comparative balance sheet and income statement is shown for Cruz, Incorporated. CRUZ, INCORPORATED Comparative Balance Sheets At December 31 Assets Cash Accounts receivable, net Prepaid expenses Inventory Total current assets Furniture Accumulated depreciation-Furniture Total assets Liabilities and Equity Accounts payable Income taxes payable Wages payable 2021 2020 $ 85,600 36,800 $ 21,300 45,200 77,100 84,900 4,700 3,900 204,200 155,300 94,700 110,500 (8,400) (14,700) $ 284,200 $ 13,400 8,000 $ 257,400 $ 19,000 4,500 1,400 2,500 Total current liabilities Notes payable (long-term) Total liabilities Equity Common stock, $5 par value Retained earnings 22,800 26,000 28,900 66,400 51,700 92,400 204,000 162,300 28,500 2,700 Total liabilities and equity $ 284,200 $ 257,400 CRUZ, INCORPORATED Income Statement For Year Ended December 31, 2021 Sales Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income $ 440,700 283,700 157,000 80,400 33,900 42,700 15,500 $ 27,200 1. Assume that all common stock is issued for cash. What amount of cash dividends is paid during 2021? 2. Assume that no additional notes payable are issued in 2021. What cash amount is paid to reduce the notes payable balance in 2021? 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 2021? Beginning balance Retained Earnings Ending balance 0 < Required 1 Required 2 >