Additional information:

Net income was $$22,800.$ Dividends declared and paid were $$19,500.$

No noncash investing and financing activities occurred during $2025.$

The land was sold for cash of $$4,000.$

Prepare a statement of cash flows for $2025$ using the indirect method. $($Show amounts that decrease cash flow with either $a-$ sign e$.$g$.$

$-15,000$ or in parenthesis e$.$g$.(15,000).)$

NOVAK CORPORATION

Statement of Cash Flows $-$ Indirect Method

For the Year Ended December $31,2025$

Cash Flows from Operating Activities

Net Income

$

Adjustments to reconcile net income to

Cash Flows from Operating Activities

$