The following account balances are taken from the records of Martin Corp. for the past two years.
Other information available for 2017 is as follows:
a. Net income for the year was $200,000.
b. Depreciation expense on plant and equipment was $50,000.
c. Plant and equipment with an original cost of $150,000 were sold for $64,000. (You will need to determine the book value of the assets sold.)
d. Amortization expense on patents was $8,000.
e. Both new plant and equipment and patents were purchased for cash during the year.
Required
Indicate, with amounts, how all items related to these long-term assets would be reported in the 2017 statement of cash flows, including any adjustments in the Operating Activities section of the statement. Assume that Martin uses the indirect method.