Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows Ending Beginning Balance Balance $ 80,800 $ 96,800 65,400 70,400 87,800 80,000 234,000 224,000 (78,000) (56,000) Cash Inventory Property, plant, and equipment Less accumulated depreciation Total assets $ 390,000 $415,200 Accounts payable Income taxes payable Bonds payable Common stock Retained earnings $ 51,200 $ 91.000 39,800 51,200 96.00080,000 112,000 96,000 91,000 97,000 Total liabilities and stockholders' equity $ 390,000 $415,200 During the year Ravenna paid a $9,600 cash dividend and it sold a piece of equipment for $4,800 that had originally cost $10,800 and had accumulated depreciation of $7,200. The company did not retire any bonds or repurchase any of its own common stock during the year Required How much depreciation would the company add to net income on its statement of cash fows