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	$	61,000		$	40,000
Accounts receivable		710,000			530,000
Inventory		848,000			860,000
Prepaid expenses		10,000			5,000
Total current assets		1,629,000			1,435,000
Property, plant, and equipment		3,170,000			2,600,000
Less accumulated depreciation		810,000			755,000
Net property, plant, and equipment		2,360,000			1,845,000
Long-term investments		60,000			110,000
Loans to subsidiaries		214,000			170,000
Total assets	$	4,263,000		$	3,560,000
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$	970,000		$	670,000
Accrued liabilities		65,000			82,000
Income taxes payable		95,000			80,000
Total current liabilities		1,130,000			832,000
Bonds payable		820,000			600,000
Total liabilities		1,950,000			1,432,000
Stockholders equity:
Common stock		1,740,000			1,650,000
Retained earnings		573,000			478,000
Total stockholders equity		2,313,000			2,128,000
Total liabilities and stockholders' equity	$	4,263,000		$	3,560,000

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

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

2. Bonds with a principal balance of $350,000 were repaid during this year.

3. Equipment was sold during this year for $70,000. The equipment had cost $130,000 and had $40,000 in accumulated depreciation on the date of sale.

4. Long-term investments were sold during the year for $110,000. These investments had cost $50,000 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					$	2,000,000
Cost of goods sold						1,300,000
Gross margin						700,000
Selling and administrative expenses						490,000
Net operating income						210,000
Nonoperating items:
Gain on sale of investments	$	60,000
Loss on sale of equipment		(20,000	)			40,000
Income before taxes						250,000
Income taxes						80,000
Net income					$	170,000

Required:

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