The Murdock Corporation reported the following balance sheet data for 2016 and 2015:

	2016			2015
Cash	$	89,585		$	29,555
Available-for-sale securities (not cash equivalents)		21,000			96,000
Accounts receivable		91,000			78,150
Inventory		176,000			154,900
Prepaid insurance		2,490			3,100
Land, buildings, and equipment		1,272,000			1,136,000
Accumulated depreciation		(621,000	)		(583,000	)
Total assets	$	1,031,075		$	914,705
Accounts payable	$	86,240		$	159,670
Salaries payable		24,400			30,000
Notes payable (current)		34,900			86,000
Bonds payable		211,000			0
Common stock		300,000			300,000
Retained earnings		374,535			339,035
Total liabilities and shareholders' equity	$	1,031,075		$	914,705

Additional information for 2016:

Sold available-for-sale securities costing $75,000 for $80,600.

Equipment costing $20,000 with a book value of $6,100 was sold for $7,650.

Issued 6% bonds payable at face value, $211,000.

Purchased new equipment for $156,000 cash.

Paid cash dividends of $25,500.

Net income was $61,000.

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.)