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 $ 88,475 20,500 99,800 175,000 2,400 1,279,900 (620,000) $1,026,375 $ 85,340 24,899 34,000 210,000 300,000 373,035 $1,026,375 2017 $ 28,955 95,000 77,250 154,000 3,880 1,135,000 (582,000) $ 911,285 $ 158,670 29,500 85,000 300,000 338,035 $ 911,285 Additional information for 2018: (1) Sold available for sale debt securities costing $74,500 for $80,000 (2.) Equipment costing $20,000 with a book value of $6,000 was sold for $7,500. (3.) Issued 6% bonds payable at face value, $210,000. (4.) Purchased new equipment for $155,000 cash. (5.) Pold cash dividends of $25,000. (6.) Net Income was $60,000. Required: Prepare a statement of cash flows for 2018 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, 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: 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