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

	2016			2015
Cash	$	82,925		$	25,955
Available-for-sale securities (not cash equivalents)		18,000			90,000
Accounts receivable		85,000			72,750
Inventory		170,000			149,500
Prepaid insurance		1,950			2,500
Land, buildings, and equipment		1,260,000			1,130,000
Accumulated depreciation		(615,000	)		(577,000	)
Total assets	$	1,002,875		$	893,705
Accounts payable	$	80,840		$	153,670
Salaries payable		22,000			27,000
Notes payable (current)		29,500			80,000
Bonds payable		205,000			0
Common stock		300,000			300,000
Retained earnings		365,535			333,035
Total liabilities and shareholders' equity	$	1,002,875		$	893,705

Additional information for 2016:

Sold available-for-sale securities costing $72,000 for $77,000.

Equipment costing $20,000 with a book value of $5,500 was sold for $6,750.

Issued 6% bonds payable at face value, $205,000.

Purchased new equipment for $150,000 cash.

Paid cash dividends of $22,500.

Net income was $55,000.

Required:

Prepare a statement of cash flows for 2016 in good form using the indirect method for cash flows from operating activities