The comparative balance sheet of Del Ray Enterprises Inc. at December 31, 2016 and 2015, is as follows:

1		Dec. 31, 2016	Dec. 31, 2015
2	Assets
3	Cash	$146,590.00	$180,310.00
4	Accounts receivable (net)	223,920.00	242,510.00
5	Merchandise inventory	322,020.00	298,480.00
6	Prepaid expenses	12,710.00	9,770.00
7	Equipment	654,640.00	536,710.00
8	Accumulated depreciation-equipment	(170,680.00)	(132,810.00)
9	Total assets	$1,189,200.00	$1,134,970.00
10	Liabilities and Stockholders Equity
11	Accounts payable (merchandise creditors)	$249,470.00	$238,540.00
12	Mortgage note payable	0.00	335,820.00
13	Common stock, $10 par	73,000.00	23,000.00
14	Paid-in capital: Excess of issue price over parcommon stock	450,000.00	310,000.00
15	Retained earnings	416,730.00	227,610.00
16	Total liabilities and stockholders equity	$1,189,200.00	$1,134,970.00

Additional data obtained from the income statement and from an examination of the accounts in the ledger for 2016 are as follows:

A.	Net income, $343,310
B.	Depreciation reported on the income statement, $83,570
C.	Equipment was purchased at a cost of $163,630 and fully depreciated equipment costing $45,700 was discarded, with no salvage realized.
D.	The mortgage note payable was not due until 2018 but the terms permitted earlier payment without penalty.
E.	10,000 shares of common stock were issued at $19 for cash.
F.	Cash dividends declared and paid, $154,190

Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities.