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	$	88,000	$	63,600
Accounts receivable		624,000		652,500
Inventory		628,400		437,000
Prepaid expenses		23,600		13,500
Total current assets		1,364,000		1,166,600
Property, plant, and equipment		2,455,000		1,868,000
Less accumulated depreciation		635,400		575,300
Net property, plant, and equipment		1,819,600		1,292,700
Long-term investments		115,700		181,000
Loans to subsidiaries		137,000		78,500
Total assets	$	3,436,300	$	2,718,800
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$	897,200	$	587,000
Accrued liabilities		35,200		57,300
Income taxes payable		155,100		131,600
Total current liabilities		1,087,500		775,900
Bonds payable		705,000		451,000
Total liabilities		1,792,500		1,226,900
Stockholders equity:
Common stock		1,124,000		1,017,000
Retained earnings		519,800		474,900
Total stockholders equity		1,643,800		1,491,900
Total liabilities and stockholders' equity	$	3,436,300	$	2,718,800

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 $397,000 were repaid during this year.

3. Equipment was sold during this year for $78,500. The equipment had cost $164,000 and had $60,400 in accumulated depreciation on the date of sale.

4. Long-term investments were sold during the year for $144,000. These investments had cost $65,300 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					$	3,340,000
Cost of goods sold						2,070,800
Gross margin						1,269,200
Selling and administrative expenses						1,020,100
Net operating income						249,100
Nonoperating items:
Gain on sale of investments	$	78,700
Loss on sale of equipment		(25,100	)			53,600
Income before taxes						302,700
Income taxes						97,000
Net income					$	205,700

Required:

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