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

deduction In cash and cash outflows as negatlve amounts.$)$

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 $$20,000$ cash.

Sold the investment on January $1,2023,$ for $$36,800,$ resulting in investment income of $$15,520.$

Sold equipment for $$7,120$ cash that had originally cost $$35,520$ and had $$20,270$ of accumulated depreciation.

Issued $$32,000$ of bonds payable at face value.

Required:

How much cash was paid in dividends?