Burrow Mining Inc.’s comparative balance sheet information at December 31, 2023 and 2022, and its income statement for the year ended December 31, 2023, are as follows:

During 2023, the following transactions occurred:1. Issued $14,000 of bonds payable at face value.2. Sold the non-current investment on January 1, 2023, for $16,800.3. Sold equipment for $3,920 cash that had originally cost $17,920 and had $11,760 of accumulated depreciation.4. Purchased equipment for $11,200 cash.

Requireda. How much was paid in dividends during 2023?b. Prepare a statement of cash flows for Burrow Mining Inc. for the year ended December 31, 2023, using the indirect method.

Analysis Component:Accounts Receivable increased from $21,840 to $51,520 in 2023. What transactions caused this account to change? Accounts Payable decreased during 2023. What caused this account to change?.

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Burrow Mining Inc. Income Statement Year Ended December 31, 2023 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense Profit from operations Loss on sale of equipment Investment income Profit before taxes Income taxes Profit Cash Cash equivalents Accounts receivable Inventory Non-current investment Land 44,800 Building and equipment 259,280 Accumulated depreciation 68,880 11,920 400 14,000 47,600 Accounts payable Dividends payable 10,080 51,520 66,640 -0- Bonds payable Preferred shares Common shares Retained earnings Burrow Mining Inc. Comparative Balance Sheet Information December 31 2023 2022 Net Change $ 28,000 $ 14,560 $ 13,440 77,920 24,080 236,880 80,640 5,600 21,840 48,720 10,080 44,800 266,000 56,560 21,600 800 -0- 504,000 336,000 168,000 47,600 236,880 48,160 102,000 66,000 2,240 6,720 70,480 10,000 60,480 4,480 29,680 17,920 (10,080) -0- (6,720) 12,320 (9,680) (400) 14,000 -0- -0- 32,480