The Murdock Corporation Reported the Following Balance Sheet Data for 2016

Essay

The Murdock Corporation reported the following balance sheet data for 2016 and 2015:

Additional information for 2016:
(1. )Sold available-for-sale securities costing $69,500 for $74,000.
(2. )Equipment costing $20,000 with a book value of $5,000 was sold for $6,000.
(3. )Issued 6% bonds payable at face value,$200,000.
(4. )Purchased new equipment for $145,000 cash.
(5. )Paid cash dividends of $20,000.
(6. )Net income was $50,000.
Required:
Prepare a statement of cash flows for 2016 in good form using the indirect method for cash flows from operating activities.