The Murdock Corporation reported the following balance sheet data for 2016 and 2015: Cash Available-for-sale securities (not cash equivalents) Accounts receivable Inventory Prepaid insurance Land, buildings, and equipment Accumulated depreciation 2016 2015 $ 94,025 $ 31,955 23,000 100,000 95,000 81,750 180,000 158,500 2,850 3,500 1,280,000 1,140,000 (625,000) (587,000) Total assets $ 1,049,875 $ 928,705 $ Accounts payable Salaries payable Notes payable (current) Bonds payable Common stock Retained earnings 89,840 $ 163,670 26,000 32,000 38,500 90,000 215,000 300,000 300,000 380,535 343,035 0 Total liabilities and shareholders' equity $ 1,049,875 $ 928,705 Additional information for 2016: Sold available-for-sale securities costing $77,000 for $83,000. Equipment costing $20,000 with a book value of $6,500 was sold for $8,250. Issued 6% bonds payable at face value, $215,000. Purchased new equipment for $160,000 cash. Paid cash dividends of $27,500. Net income was $65,000. 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.) 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