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The Murdock Corporation reported the following balance sheet data for 2018 and 2017: 2018 2017 Cash $ 95,135 $ 32,555 Available-for-sale debt securities (not cash

The Murdock Corporation reported the following balance sheet data for 2018 and 2017:

2018 2017
Cash $ 95,135 $ 32,555
Available-for-sale debt 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 2018:

  • (1.) Sold available-for-sale debt securities costing $77,500 for $83,600.
  • (2.) Equipment costing $20,000 with a book value of $6,600 was sold for $8,400.
  • (3.) Issued 6% bonds payable at face value, $216,000.
  • (4.) Purchased new equipment for $161,000 cash.
  • (5.) Paid cash dividends of $28,000.
  • (6.) Net income was $66,000.

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.)

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