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The Murdock Corporation reported the following balance sheet data for 2016 and 2015: 2016 2015 Cash $ 90,695 $ 30,155 Available-for-sale securities (not cash equivalents)

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

2016 2015
Cash $ 90,695 $ 30,155
Available-for-sale securities (not cash equivalents) 21,500 97,000
Accounts receivable 92,000 79,050
Inventory 177,000 155,800
Prepaid insurance 2,580 3,200
Land, buildings, and equipment 1,274,000 1,137,000
Accumulated depreciation (622,000 ) (584,000 )

Total assets $ 1,035,775 $ 918,205

Accounts payable $ 87,140 $ 160,670
Salaries payable 24,800 30,500
Notes payable (current) 35,800 87,000
Bonds payable 212,000 0
Common stock 300,000 300,000
Retained earnings 376,035 340,035

Total liabilities and shareholders' equity $ 1,035,775 $ 918,205

Additional information for 2016:
Sold available-for-sale securities costing $75,500 for $81,200.
Equipment costing $20,000 with a book value of $6,200 was sold for $7,800.
Issued 6% bonds payable at face value, $212,000.
Purchased new equipment for $157,000 cash.
Paid cash dividends of $26,000.
Net income was $62,000.

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.)

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