2 Instant Brake Inc.'s comparative balance sheet information at December 31, 2020 and 2019, and its incor ended December 31, 2020, are as follows: 0250 20 $887,880 567,000 $320,000 Instant Brake Inc. Income Statement December 31, 2020 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense Operating Profit Loss on sale of equipment Investment income Profit before taxes Income taxes Profit $132,630 41,199 173,820 146,180 14,350 21,020 152,850 21,000 $131,850 Cash Cash equivalents Accounts receivable Inventory Investment Land Building and equipment Accumulated depreciation Instant Brake Inc Balance Sheet Information December 31 2020 2019 $ 39,000 $ 23,160 26,789 75 800 86,520 28, 440 112,440 74,520 26,780 75.000 75,000 406690 427.710 1894950 82960 Net Change $ 15,840 18,988 58,080 37,920 26,780 (R2020 21,99 Prev 2 of 6 Next > $ 23,160 39.000 26,7ne B6,528 112,410 28,440 $ 15,00 18. 58,080 17.920 26,780) Cash Cash equivalents Accounts receivable Inventory Investment Land Building and equipment Accumulated depreciation Accounts payable Dividends payable Bonds payable Preferred shares Common shares Retained earnings 55 75.000 406,690 109,ese 6,460 2,600 15,000 79,800 404,280 129,240 26,780 75.000 427,210 87.960 36,000 1,500 o 79,800 404,280 53,870 (21,920) 21,000 (29,548) 1,100 15,000 75,370 During 2020, the following transactions occurred: 1. Purchased equipment for $21,100 cash. 2. Sold the investment on January 1, 2020, for $47,800, resulting in investment income of $21,020. 3. Sold equipment for $7,670 cash that had originally cost $42,120 and had $20,100 of accumulated depreciation 4. Issued $15,000 of bonds payable at face value. Required: 1. How much cash was paid in dividends? Dividends paid Prey. 2 of 6 Next > Address gorive mounts. 43 Cash flows from operating activities: Adjustments to reconcile profit to net cash inflows from operating activities: Cash flows from investing activities Addr