The Murdock Corporation reported the following balance sheet data for 2021 and 2020: 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 2021 $ 88,475 20,500 90,000 175,000 2,400 1,270,000 (620,000) $1,026,375 $ 85,340 24,000 34,000 210,000 300,000 373,035 $1,026,375 2020 $ 28,955 95,000 77,250 154,000 3,000 1,135,000 (582,000) $ 911, 205 $ 158,670 29,500 85,000 0 300,000 338,035 $ 911,205 Additional information for 2021: (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) Paid cash dividends of $25,000. (6) Net income was $60,000. MURDOCK CORPORATION Statement of Cash Flows For the Year Ended December 31, 2021 Cash flows from operating activities: Adjustments for noncash effects: Changes in operating assets and liabilities: $ 0 Net cash flows from operating activities Cash flows from investing activities: Net cash flows from investing activities 0 Changes in operating assets and liabilities: $ 0 Net cash flows from operating activities Cash flows from investing activities: 0 Net cash flows from investing activities Cash flows from financing activities: Net cash flows from financing activities 0 Cash balance, January 1 Cash balance, December 31 $ 0