Allen Company uses the indirect method to prepare its statement of cash flows. Refer to the following portion of the comparative balance sheet: Allen Company Comparative Balance Sheet December 31, 2015 and 2014 2015 2014 Increase decrease $28.000 55.000 $23.000 105.000 $2.000 26,000 (9.000) (6.000) (3.000) Comunion Stock Retained Earnings Treasury Stock Total equity 127.000 81,000 46,000 If the net income for the year was $58,000, the company must have declared $32,000 as dividends during the year. Select one: True False