The Murdock Corporation reported the following balance sheet data for 2016 and 2015: Cash Available-for-sale securities (not cash equivalents) Accounts receivable Inventory Prepaid insurance Land, buildings, and equipment Accumulated depreciation 2016 2015 87,365 $ 28,355 20,000 94,000 89,000 76,350 174,000 153,100 2,310 2.900 1,268,000 1,134,000 (619,000) (581,000) Total assets $ 1,021,675 $ 907,705 $ Accounts payable Salaries payable Notes payable (current) Bonds payable Common stock Retained earnings 84,440 $ 157,670 23,600 29,000 33,100 84.000 209,000 O 300,000 300,000 371,535 337,035 Total liabilities and shareholders' equity $ 1,021,675 $ 907,705 Additional information for 2016: Sold available-for-sale securities costing $74,000 for $79,400. Equipment costing $20,000 with a book value of $5,900 was sold for $7,350. Issued 6% bonds payable at face value, $209,000. Purchased new equipment for $154,000 cash. Paid cash dividends of $24,500. Net income was $59.000. 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