The Murdock Corporation reported the following balance sheet data for 2018 and 2017: Cash Available-for-sale debt securities (not cash equivalents) Accounts receivable Inventory Prepaid insurance Land, buildings, and equipment Accumulated depreciation Total assets Accounts payable Salaries payable Notes payable (current) Bonds payable Common stock Retained earnings Total liabilities and shareholders' equity 2018 95, 135 23,500 96,000 181,000 2,940 1,282,000 (626,000) $1,054,575 $ 90,740 26,400 39,400 216,000 300,000 382,035 $1,054,575 2017 $ 32,555 101,000 82,650 159,400 3,600 1,141,000 (588,000) $ 932,205 $ 164,670 32,500 91,000 300,000 344,035 $ 932,205 Additional information for 2018: (1.) Sold available-for-sale debt securities costing $77,500 for $83,600. (2.) Equipment costing $20,000 with a book value of $6,600 was sold for $8,400. (3.) Issued 6% bonds payable at face value, $216,000. (4.) Purchased new equipment for $161,000 cash. (5.) Paid cash dividends of $28,000. (6.) Net income was $66,000. Required: Prepare a statement of cash flows for 2018 in good form using the indirect method for cash flows from operating activities to be deducted should be indicated with a minus sign.) MURDOCK CORPORATION Statement of Cash Flows For the Year Ended December 31, 2018 Cash flows from operating activities: Adjustments for noncash effects: Changes in operating assets and liabilities: Net cash flows from operating activities Cash flows from investing activities: Net cash flows from investing Cash flows from financing activiti 10 16 GAS ities Net cash flows from financing activities