Question 1 (of 28) Save & Exh Time remaining The Murdock Corporation reported the following balance sheet data for 2016 and 2015: 2016 2015 95,135 32,555 Available-for-sale securities (not cash equivalents) 23,500 101,000 Accounts receivable 96,000 82,650 181,000 159,400 Prepaid insurance 2,940 3,600 Land, buildings, and equipment 1,282,000 1,141,000 Accumulated depreciation (626,000) (588,000) Total assets 1,054,575 932,205 Accounts payable 90,740 164,670 Salaries payable 26,400 32,500 Notes payable (current) 39.400 91,000 Bonds payable 216.000 Common stock 300,000 300,000 Retained earnings 382,035 344,035 Total liabilities and shareholders' equity 1,054,575 932,205 Additional information for 2016 Sold available-for-sale securities costing $77,500 for$83,600. Equipment costing $20,000 with a book value of$6.600 was sold for $8,400. Issued 6% bonds payable at face value, $216,000. Purchased new equipment for $161,000 cash. Paid cash dividends of $28,000. Net income was $66,000. Required Prepare a statement of cash flows for 2016 in good form using the indirect method for cash flows from operating activities. (Amounts to be deducted should be indicated with a minus sign.) MURDOCK coMPANY Statement of Cash Flows