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Instant Brke Inc.'s comparative balance sheet information at December 31,2023 and 2022 , and its income statement for the year ended December 31,2023 , are
Instant Brke 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 $20,900 cash. 2. Sold the investment on January 1, 2023, for $45,800, resulting in investment income of $20,020. 3. Sold equipment for $7,570 cash that had originally cost $10,920 and had $20,120 of accumulated depreciation. 4. Issued $17,000 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. (List any deduction in cash and cash outflows as negative amounts.)
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