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3 QS 12-17 Computing financing cash outflows LO P3 2 points Slopped eBook Print A comparative balance sheet and income statement is shown for Cruz, Inc CRUZ, INC Comparative Balance Sheets December 31, 2019 2019 2018 Assets Cash 5 73,200 $ 18,300 Accounts receivable, net 31,400 38,800 Inventory 65,700 72,800 Prepaid expenses 4,100 3,300 Total current assets 174,400 133,200 Furniture 82,700 93,500 Accum. depreciation-Furniture (12,800) (7.100) Total assets $244,300 $219,6ee Liabilities and Equity Accounts payable $ 11,500 $ 16,200 Wages payable 6,800 3,800 Income taxes payable 1.100 2.100 Total current liabilities 19,400 22,100 Notes payable (long-term) 22,700 55.ee Total liabilities 42,100 77,800 Equity Common stock, 55 par value 123,100 134,500 Retained earnings 29,180 7,300 Total liabilities and equity $244.300 $219,600 References CRUZ, INC Income Statement Far Year Ended December 31, 2019 Sales $375,90 Cost of goods sold 2419 Gross profit 134,80 Operating expenses Depreciation expense $28.900 Other expenses 68,600 92500 Income before taxes 36,588 Income taxes expense 13300 Net Income $ 2200 c raw Hill Net income $ 23,200 $ 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 20197 Notes Payable Beg bal End, bal