Instant Brake Inc.$\text{'}s$ 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:

Purchased equipment for $$20,400$ cash.

Sold the investment $on$ January $1,2023,$ for $$40,800,$ resulting $in$ investment income $of$ $$17,520.$

Sold equipment for $$7,320$ cash that had originally cost $$37,920$ and had $$20,170of$ accumulated depreciation.

Issued $$22,000of$ bonds payable $at$ face value.

Required:

How much cash was paid $in$ dividends?

Dividends paid Prepare a statement $of$ cash flows for Instant Brake for the year ended December $31,2023,$ using the indirect method. $(List$ any

deduction $in$ cash and cash outflows $as$ negative amounts.$)$

INSTANT BRAKE INC.

Statement $of$ Cash Flows

For Year Ended December $31,2023$