The Murdock Corporation reported the following balance sheet data for 2018 and 2017: 2018 2017 Cash $ 90,695 $ 30,155 Available-for-sale debt securities (not cash equivalents) 21,500 97,000 Accounts receivable 92,000 79,050 Inventory 177,000 155,800 Prepaid insurance 2,580 3,200 Land, buildings, and equipment 1,274,000 1,137,000 Accumulated depreciation (622,000 ) (584,000 ) Total assets $ 1,035,775 $ 918,205 Accounts payable $ 87,140 $ 160,670 Salaries payable 24,800 30,500 Notes payable (current) 35,800 87,000 Bonds payable 212,000 0 Common stock 300,000 300,000 Retained earnings 376,035 340,035 Total liabilities and shareholders' equity $ 1,035,775 $ 918,205 Additional information for 2018: (1.) Sold available-for-sale debt securities costing $75,500 for $81,200. (2.) Equipment costing $20,000 with a book value of $6,200 was sold for $7,800. (3.) Issued 6% bonds payable at face value, $212,000. (4.) Purchased new equipment for $157,000 cash. (5.) Paid cash dividends of $26,000. (6.) Net income was $62,000.
Prepare a statement of cash flows for 2018 in good form using the indirect method for cash flows from operating activities.