The Murdock Corporation reported the following balance sheet data for 2024 and 2023: ...

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Accounting

The Murdock Corporation reported the following balance sheet data for 2024 and 2023:
20242023
Cash $ 82,925 $ 25,955
Available-for-sale debt securities (not cash equivalents)18,00090,000
Accounts receivable 85,00072,750
Inventory 170,000149,500
Prepaid insurance 1,9502,500
Land, buildings, and equipment 1,260,0001,130,000
Accumulated depreciation (615,000)(577,000)
Total assets $ 1,002,875 $ 893,705
Accounts payable $ 80,840 $ 153,670
Salaries payable 22,00027,000
Notes payable (current)29,50080,000
Bonds payable 205,0000
Common stock 300,000300,000
Retained earnings 365,535333,035
Total liabilities and shareholders' equity $ 1,002,875 $ 893,705
Additional information for 2024:
(1) Sold available-for-sale debt securities costing $72,000 for $77,000.
(2) Equipment costing $20,000 with a book value of $5,500 was sold for $6,750.
(3) Issued 6% bonds payable at face value, $205,000.
(4) Purchased new equipment for $150,000 cash.
(5) Paid cash dividends of $22,500.
(6) Net income was $55,000.
Required:
Prepare a statement of cash flows for 2024 in good form using the indirect method for cash flows from operating activities.
Note: Amounts to be deducted should be indicated with a minus sign.

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