Tennessee Moving Company uses the Indirect method to prepare its statement of cash flows. Refer to the following portion of the comparative balance sheet: Tennessee Company Comparative Balance Sheet December 31, 2024 and 2023 2024 2023 Increase (Decrease) Common Stock $37.000 $11,000 $26,000 Retained Earnings 108,000 83,000 25,000 Treasury Stock (13.000) (8,000) (5,000) Total Stockholders' Equity 132,000 86,000 46,000 If the net income for the year was $58,000, the company must have declared $33,000 as dividends during the year. True OO False