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Complete Problem 16-7A (page 1195): "Paddleboard Inc." cashflow statement. Do not do the 'Analysis Component'. (25 marks) problem 16-3A Preparing the statement of cash flows (indirect method) L05, 6 CHECK FIGURE: Cash inflow from operating activities =$43,800 Instant Brake 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. Purchased equipment for $21,000 cash. 2. Sold the investment on January 1, 2023, for $46,800, resulting in investment income of $20,520. 3. Sold equipment for $7,620 cash that had originally cost $41,520 and had $20,080 of accumulared depreciation. 4. Issued $16,000 of bonds payable at face value. Required 1. How much cash was paid in dividends? 2. Prepare a statement of cash flows for Instant Brake for the year ended December 31, 2023, using the indirect method. Analysis Component: The net increase in cash during 2023 for Instant Brake was \$16,640. Briefly explain what caused this change using the statement of cash flows prepared in part 2 above