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	$ 84,000	$ 60,400
Accounts receivable	616,000	642,500
Inventory	623,600	433,000
Prepaid expenses	20,400	11,500
Total current assets	1,344,000	1,147,400
Property, plant, and equipment	2,435,000	1,852,000
Less accumulated depreciation	630,600	571,700
Net property, plant, and equipment	1,804,400	1,280,300
Long-term investments	107,300	169,000
Loans to subsidiaries	133,000	76,500
Total assets	$ 3,388,700	$ 2,673,200
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$ 890,800	$ 583,000
Accrued liabilities	32,800	53,700
Income taxes payable	149,900	128,400
Total current liabilities	1,073,500	765,100
Bonds payable	685,000	439,000
Total liabilities	1,758,500	1,204,100
Stockholders equity:
Common stock	1,116,000	1,013,000
Retained earnings	514,200	456,100
Total stockholders equity	1,630,200	1,469,100
Total liabilities and stockholders' equity	$ 3,388,700	$ 2,673,200

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 $393,000 were repaid during this year.

Equipment was sold during this year for $76,500. The equipment had cost $156,000 and had $55,600 in accumulated depreciation on the date of sale.

Long-term investments were sold during the year for $136,000. These investments had cost $61,700 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		$ 3,260,000
Cost of goods sold		2,021,200
Gross margin		1,238,800
Selling and administrative expenses		998,900
Net operating income		239,900
Nonoperating items:
Gain on sale of investments	$ 74,300
Loss on sale of equipment	(23,900)	50,400
Income before taxes		290,300
Income taxes		93,000
Net income		$ 197,300

Required:

1. Using the indirect method, prepare a statement of cash flows for this year.