The Murdock Corporation reported the following balance sheet data for 2021 and 2020:

	2021				2020
Cash	$	85,145			$	27,155
Available-for-sale debt securities (not cash equivalents)		19,000				92,000
Accounts receivable		87,000				74,550
Inventory		172,000				151,300
Prepaid insurance		2,130				2,700
Land, buildings, and equipment		1,264,000				1,132,000
Accumulated depreciation		(617,000	)			(579,000	)
Total assets	$	1,012,275			$	900,705
Accounts payable	$	82,640			$	155,670
Salaries payable		22,800				28,000
Notes payable (current)		31,300				82,000
Bonds payable		207,000				0
Common stock		300,000				300,000
Retained earnings		368,535				335,035
Total liabilities and shareholders' equity	$	1,012,275			$	900,705

Additional information for 2021:

• (1) Sold available-for-sale debt securities costing $73,000 for $78,200.
• (2) Equipment costing $20,000 with a book value of $5,700 was sold for $7,050.
• (3) Issued 6% bonds payable at face value, $207,000.
• (4) Purchased new equipment for $152,000 cash.
• (5) Paid cash dividends of $23,500.
• (6) Net income was $57,000.

Required: Prepare a statement of cash flows for 2021 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 CORPORATION Statement of Cash Flows For the Year Ended December 31, 2021 Cash flows from operating activities: Net income Adjustments for noncash effects: Depreciation expense Gain on sale of equipment Changes in operating assets and liabilities: 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 $ 0