Thunder Corporation's balance sheet and income statement appear below:

Comparative Balance Sheet

Ending Balance Beginning Balance

Assets:

Cash and cash equivalents $ $34$ $ $37$

Accounts receivable $6671$

Inventory $4748$

Property, plant, and equipment $460386$

Less accumulated depreciation $206172$

Total assets $ $401$ $ $370$

Liabilities and stockholders' equity:

Accounts payable $ $49$ $ $51$

Bonds payable $196266$

Common stock $4746$

Retained earnings $1097$

Total liabilities and stockholders' equity $ $401$ $ $370$

Income Statement

Sales $ $873$

Cost of goods sold $545$

Gross margin $328$

Selling and administrative expense $167$

Net operating income $161$

Income taxes $35$

Net income $ $126$

The company did not dispose of any property, plant, and equipment, issue any bonds payable, or repurchase any of its own common stock during the year. The company declared and paid a cash dividend of $$24.$

Required:

Prepare a statement of cash flows in good form using the indirect method.

Note: List any deduction in cash and cash outflows as negative amounts.