Instant Brake Inc.'s comparative balance sheet information at December 31, 2020 and 2019, and its income statement for the year ended December 31, 2020, are as follows: $883,000 569,000 $314,000 Instant Brake Inc. Income Statement December 31, 2020 Sales Cost of goods sold Gross profit Operating expenses $132,650 Depreciation expense 41,210 Operating Profit Loss on sale of equipment 13,230 Investment income 20,020 Profit before taxes Income taxes Profit 173,860 140, 140 146,930 19,800 $127,930 Instant Brake Inc. Balance Sheet Information December 31 2020 2019 Net Change Cash $ 41,000 $ 23,560 $ 17,440 Cash equivalents 25,780 8,280 17,580 Accounts receivable 86.97 34.440 56.4RA Required: 1. How much cash was paid in dividends? Dividends paid 2. Prepare a statement of cash flows for Instant Brake for the year ended December 31, 2020, 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, 2020 Cash flows from operating activities: Adjustments to reconcile profit to net cash inflows from operating activities: