The Murdock Corporation reported the following balance sheet data for 2016 and 2015: (8 01:58:43 Cash Available-for-sale securities (not cash equivalents) Accounts receivable Inventory Prepaid insurance Land, buildings, and equipment Accumulated depreciation 2016 2015 $ 99.575 $34.955 25,500 105,000 100,000 86,250 185,000 163,000 3,300 4,000 1.290.000 1.145.000 (630,000) (592,000) Total assets $ 1.073,375 $ 946.205 $168.670 34,500 95.000 Accounts payable Salaries payable Notes payable (current) Bonds payable Common stock Retained earnings 94,340 28.000 43.000 220,000 300,000 388,035 300,000 348,035 Total liabilities and shareholders' equity $ 1,073,375 $ 946,205 Additional information for 2016: Sold available-for-sale securities costing $79,500 for $86,000. Equipment costing $20,000 with a book value of $7,000 was sold for $9.000. Issued 6% bonds payable at face value, $220.000. Purchased new equipment for $165,000 cash. Paid cash dividends of $30,000. Net income was $70,000. 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 slgn.) MURDOCK COMPANY Statement of Cash Flows For the Year Ended December 31, 2016 Cash flows from operating activities: Adjustments for noncash effects: Net cash flows from operating activities Cash flows from investing activities: Net cash flows from investing activities Cash flows from financing activities: Net cash flows from financing activities Cash balance, January 1 Cash balance, December 31