Question

Required information Use the following information for the Quick Study below A comparative balance sheet and income statement is shown for Cruz, Inc. CRUZ, INC ComparativeBalance Sheets December 31, 2017 2017 2016 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accum. depreciation-Furniture (17,200)(9,400) lotal assets Liabilities and Equity Accounts payable Wages payable Income taxes payable lotall current l1abilities Notes payable (long-term) Total liabilities Equity Common stock, $5 par value Retained earnings Total liabilities and equity $325,900 $292,906e $ 97,400 24,400 51,700 97,100 4,400 232,100 177,600 111,000124,700 41,800 87,400 5, 500 $325,900 $292,900 $ 15,400 $ 21, 500 4,900 2,700 29,100 71,600 57,000 100,700 9,200 1,500 26,100 30,900 232,600185,600 6, 600 36, 300

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Answer 1

1) amount of cash dividend paid during the

2017 is   $11,00 (answer)

Explanation

Retained earnings

Beginning balance	6,600
Add Net income	30,800
SUB TOTAL	37,400
Less cash dividend paid	11,00
Ending balance	36,300

2) amount paid on notes payable is $40,700 (answer)

Explanation

Notes payable

Beginning notes payable	71,600
Less. Payment on notes payable	40,700
Ending notes payable	30,900

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