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The Murdock Corporation reported the following balance sheet data for 2016 and 2015: Additional information for 2016: Sold available-for-sale securities costing $78, 500 for $84,
The Murdock Corporation reported the following balance sheet data for 2016 and 2015: Additional information for 2016: Sold available-for-sale securities costing $78, 500 for $84, 800. Equipment costing $20,000 with a book value of $6, 800 was sold for $8, 700. Issued 6% bonds payable at face value, $218,000. Purchased new equipment for $163,000 cash. Paid cash dividends of $29,000. Net income was $68,000. 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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