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

Lomax Company Comparative Balance Sheet
	This Year	Last Year
Assets
Current assets:
Cash and cash equivalents	$ 75,000	$ 53,200
Accounts receivable	598,000	620,000
Inventory	612,800	424,000
Prepaid expenses	13,200	7,000
Total current assets	1,299,000	1,104,200
Property, plant, and equipment	2,390,000	1,816,000
Less accumulated depreciation	619,800	563,600
Net property, plant, and equipment	1,770,200	1,252,400
Long-term investments	88,400	142,000
Loans to subsidiaries	124,000	72,000
Total assets	$ 3,281,600	$ 2,570,600
Liabilities and Stockholders' Equity
Current liabilities
Accounts payable	$ 876,400	$ 574,000
Accrued liabilities	27,400	45,600
Income taxes payable	138,200	121,200
Total current liabilities	1,042,000	740,800
Bonds payable	640,000	412,000
Total liabilities	1,682,000	1,152,800
Stockholders equity:
Common stock	1,098,000	1,004,000
Retained earnings	501,600	413,800
Total stockholders equity	1,599,600	1,417,800
Total liabilities and stockholders' equity	$ 3,281,600	$ 2,570,600

The following additional information is available about the companys activities during this year:

1. The company declared and paid a cash dividend this year.

Bonds with a principal balance of $384,000 were repaid during this year.

Equipment was sold during this year for $72,000. The equipment had cost $138,000 and had $44,800 in accumulated depreciation on the date of sale.

Long-term investments were sold during the year for $118,000. These investments had cost $53,600 when purchased several years ago.

The subsidiaries did not repay any outstanding loans during the year.

Lomax did not repurchase any of its own stock during the year.

The company reported net income this year as follows:

Sales		$ 3,080,000
Cost of goods sold		1,909,600
Gross margin		1,170,400
Selling and administrative expenses		951,200
Net operating income		219,200
Nonoperating items:
Gain on sale of investments	$ 64,400
Loss on sale of equipment	(21,200)	43,200
Income before taxes		262,400
Income taxes		84,000
Net income		$ 178,400

Required:

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