A comparative balance sheet for Lomax Company containing data for the last two years is as follows:

Lomax Company

Comparative Balance SheetThis YearLast YearAssetsCurrent assets:Cash and cash equivalents$ 72,000$ 50,800Accounts receivable592,000612,500Inventory609,200421,000Prepaid expenses10,8005,500Total current assets1,284,0001,089,800Property, plant, and equipment2,375,0001,804,000Less accumulated depreciation616,200560,900Net property, plant, and equipment1,758,8001,243,100Long-term investments82,100133,000Loans to subsidiaries121,00070,500Total assets$ 3,245,900$ 2,536,400Liabilities and Stockholders' EquityCurrent liabilities:Accounts payable$ 871,600$ 571,000Accrued liabilities25,60042,900Income taxes payable134,300118,800Total current liabilities1,031,500732,700Bonds payable625,000403,000Total liabilities1,656,5001,135,700Stockholders' equity:Common stock1,092,0001,001,000Retained earnings497,400399,700Total stockholders' equity1,589,4001,400,700Total liabilities and stockholders' equity$ 3,245,900$ 2,536,400

The following additional information is available about the company's activities during this year:

1. The company declared and paid a cash dividend this year.
2. Bonds with a principal balance of $381,000 were repaid during this year.
3. Equipment was sold during this year for $70,500. The equipment had cost $132,000 and had $41,200 in accumulated depreciation on the date of sale.
4. Long-term investments were sold during the year for $112,000. These investments had cost $50,900 when purchased several years ago.
5. The subsidiaries did not repay any outstanding loans during the year.
6. Lomax did not repurchase any of its own stock during the year.

The company reported net income this year as follows:

Sales$ 3,020,000Cost of goods sold1,872,400Gross margin1,147,600Selling and administrative expenses935,300Net operating income212,300Nonoperating items:Gain on sale of investments$ 61,100Loss on sale of equipment(20,300)40,800Income before taxes253,100Income taxes81,000Net income$ 172,100

Required:

1. Using the indirect method, prepare a statement of cash flows for this year.(List any deduction in cash outflows as negative amounts.)