The Murdock Corporation reported the following balance sheet data for 2016 and 2015:

	2016			2015
Cash	$	95,135		$	32,555
Available-for-sale securities (not cash equivalents)		23,500			101,000
Accounts receivable		96,000			82,650
Inventory		181,000			159,400
Prepaid insurance		2,940			3,600
Land, buildings, and equipment		1,282,000			1,141,000
Accumulated depreciation		(626,000	)		(588,000	)
Total assets	$	1,054,575		$	932,205
Accounts payable	$	90,740		$	164,670
Salaries payable		26,400			32,500
Notes payable (current)		39,400			91,000
Bonds payable		216,000			0
Common stock		300,000			300,000
Retained earnings		382,035			344,035
Total liabilities and shareholders' equity	$	1,054,575		$	932,205

Additional information for 2016:

Sold available-for-sale securities costing $77,500 for $83,600.

Equipment costing $20,000 with a book value of $6,600 was sold for $8,400.

Issued 6% bonds payable at face value, $216,000.

Purchased new equipment for $161,000 cash.

Paid cash dividends of $28,000.

Net income was $66,000.

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.)