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

	2016			2015
Cash	$	96,245		$	33,155
Available-for-sale securities (not cash equivalents)		24,000			102,000
Accounts receivable		97,000			83,550
Inventory		182,000			160,300
Prepaid insurance		3,030			3,700
Land, buildings, and equipment		1,284,000			1,142,000
Accumulated depreciation		(627,000	)		(589,000	)
Total assets	$	1,059,275		$	935,705
Accounts payable	$	91,640		$	165,670
Salaries payable		26,800			33,000
Notes payable (current)		40,300			92,000
Bonds payable		217,000			0
Common stock		300,000			300,000
Retained earnings		383,535			345,035
Total liabilities and shareholders' equity	$	1,059,275		$	935,705

Additional information for 2016:

Sold available-for-sale securities costing $78,000 for $84,200.

Equipment costing $20,000 with a book value of $6,700 was sold for $8,550.

Issued 6% bonds payable at face value, $217,000.

Purchased new equipment for $162,000 cash.

Paid cash dividends of $28,500.

Net income was $67,000.

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.)