QS $12-17($Algo$)$ Computing financing cash outflows LO P$3-$ A comparative balance sheet and income statement is shown for Cruz, Incorporated. CRUZ, INCORPORATED Comparative Balance Sheets At December $3120212020$ Assets Cash $ $62,800$ $ $15,700$ Accounts receivable, net $27,00033,300$ Inventory $56,60062,500$ Prepaid expenses $3,5002,900$ Total current assets $149,800114,400$ Furniture $70,50082,200$ Accumulated depreciation$-$Furniture $(10,900)(6,200)$ Total assets $ $209,400$ $ $190,400$ Liabilities and Equity Accounts payable $ $9,900$ $ $14,000$ Wages payable $5,9003,300$ Income taxes payable $1,0001,800$ Total current liabilities $16,80019,100$ Notes payable $($long$-$term$)20,70047,800$ Total liabilities $37,50066,900$ Equity Common stock, $$5$ par value $152,200123,000$ Retained earnings $19,700500$ Total liabilities and equity $ $209,400$ $ $190,400$ ces 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 $ $326,000209,800116,20059,50025,10031,60011,500$ $ $20,1001.$ Assume that all common stock is issued for cash. What amount of cash dividends is paid during $2021?<$ Prev $10$ of $21$ Next $>$ Hint $1.$ 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 $2021?$ Print Complete this question by entering your answers in the tabs below. References Required $1$ Required $2$ Assume that all common stock is issued for cash. What amount of cash dividends is paid Retained Earnings Beginning balance Ending balance Required $1$ Required $2>$ Complete this question by entering your answers in the tabs below. nces Required $1$ Required $2$ Assume that no additional notes payable are issued in $2021.$ What cash amount is paid to $2021?$ Notes Payable Beginning balance Ending balance $<$ Required $1$ Required $2>$