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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)

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.)

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