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	$146,600.00	$179,800.00
4	Accounts receivable (net)	224,600.00	242,000.00
5	Merchandise inventory	321,600.00	299,200.00
6	Prepaid expenses	13,400.00	9,600.00
7	Equipment	655,000.00	537,000.00
8	Accumulated depreciation-equipment	(170,800.00)	(132,200.00)
9	Total assets	$1,190,400.00	$1,135,400.00
10	Liabilities and Stockholders Equity
11	Accounts payable (merchandise creditors)	$250,200.00	$237,600.00
12	Mortgage note payable	0.00	336,000.00
13	Common stock, $10 par	74,000.00	24,000.00
14	Paid-in capital: Excess of issue price over parcommon stock	470,000.00	320,000.00
15	Retained earnings	396,200.00	217,800.00
16	Total liabilities and stockholders equity	$1,190,400.00	$1,135,400.00

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, $332,000
B.	Depreciation reported on the income statement, $83,400
C.	Equipment was purchased at a cost of $162,800 and fully depreciated equipment costing $44,800 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 $20 for cash.
F.	Cash dividends declared and paid, $153,600

Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Be sure to complete the heading of the statement. In the operating activities section, use the minus sign to indicate cash outflows, decreases in cash and a net cash outflow, if required. In the investing and financing activities section, use a minus sign only to indicate a NET cash outflow for the section.