The Murdock Corporation reported the following balance sheet data for 2016 and 2 2016 85,145 $ 2015 27,155 19,000 92,000 Cash Available-for-sale securities (not cash equivalents) Accounts receivable Inventory Prepaid insurance Land, buildings, and equipment Accumulated depreciation 87,000 74,550 172,000 151,300 2,130 2,700 1,264,000 1,132,000 (617,000) (579,000) Total assets $ 1,012,275 $ 900,705 $ Accounts payable Salaries payable Notes payable (current) Bonds payable Common stock Retained earnings 82,640 $ 155,670 22,800 28,000 31,300 82,000 207,000 o 300,000 300,000 368,535 335,035 Total liabilities and shareholders' equity $ 1,012,275 $ 900,705 Additional information for 2016: Sold available-for-sale securities costing $73,000 for $78,200. Equipment costing $20,000 with a book value of $5,700 was sold for $7,050. Issued 6% bonds payable at face value, $207,000. Purchased new equipment for $152,000 cash. Paid cash dividends of $23,500. Net income was $57,000. 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.) MURDOCK COMPANY Statement of Cash Flows For the Year Ended December 31, 2016 Cash flows from operating activities: Adjustments for noncash effects: $ 0 Net cash flows from operating activities Cash flows from investing activities: 0 Net cash flows from investing activities Cash flows from financing activities: Net cash flows from financing activities 0 Cash balance, January 1 Cash balance, December 31 $ 0