{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-27T05:07:41-04:00", "answer_date": "2024-05-27 05:07:41", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1779335", "url": "\/study-help\/questions\/-1779335", "question_creation_date_js": "2024-05-27T05:07:41-04:00", "question_creation_date": "May 27, 2024 05:07 AM", "meta_title": "[Solved] The comparative balance sheets for 2 0 2 | SolutionInn", "meta_description": "Answer of - The comparative balance sheets for 2 0 2 4 and 2 0 2 3 and the statement of income for 2 0 2 4 are given below for Dux | SolutionInn", "meta_keywords": "comparative,balance,sheets,2,4,3,statement,income,below,dux,company,additional", "question_title_h1": "The comparative balance sheets for 2 0 2 4 and 2 0 2 3 and the statement of income for 2 0 2 4 are", "question_title": "The comparative balance sheets for 2 0 2 4 and 2 0", "question_title_for_js_snippet": "The comparative balance sheets for 2 0 2 4 and 2 0 2 3 and the statement of income for 2 0 2 4 are given below for Dux Company Additional information from Dux's accounting records is provided also DUX COMPANYComparative Balance SheetsDecember 3 1 , 2 0 2 4 and 2 0 2 3 ( $ in thousands ) 2 0 2 4 2 0 2 3 Assets Cash$ 6 0 $ 2 8 Accounts receivable 4 7 5 8 Less Allowance for uncollectible accounts ( 4 ) ( 3 ) Dividends receivable 7 6 Inventory 4 0 3 5 Long term investment 2 8 2 6 Land 1 0 5 8 0 Buildings and equipment 2 0 1 2 3 0 Less Accumulated depreciation ( 3 5 ) ( 7 0 ) $ 4 4 9 $ 3 9 0 Liabilities Accounts payable$ 2 6 $ 3 9 Salaries payable 2 4 Interest payable 5 2 Income tax payable 6 8 Notes payable 2 5 0 Bonds payable 8 5 6 0 Less Discount on bonds ( 3 ) ( 4 ) Shareholders ' Equity Common stock 2 1 0 2 0 0 Paid in capitalexcess of par 2 4 2 0 Retained earnings 8 1 6 1 Less Treasury stock ( 1 2 ) 0 $ 4 4 9 $ 3 9 0 DUX COMPANYIncome StatementFor the Year Ended December 3 1 , 2 0 2 4 ( $ in thousands ) Revenues Sales revenue$ 2 8 0 Dividend revenue 7 $ 2 8 7 Expenses Cost of goods sold 1 6 0 Salaries expense 4 1 Depreciation expense 4 Bad debt expense 1 Interest expense 8 Loss on sale of building 7 Income tax expense 2 0 2 4 1 Net income $ 4 6 Additional information from the accounting records A building that originally cost $ 5 2 , 0 0 0 , and which was three fourths depreciated, was sold for $ 6 , 0 0 0 The common stock of Byrd Corporation was purchased for $ 2 , 0 0 0 as a long term investment Property was acquired by issuing a 1 1 , seven year, $ 2 5 , 0 0 0 note payable to the seller New equipment was purchased for $ 2 3 , 0 0 0 cash On January 1 , 2 0 2 4 , bonds were sold at their $ 2 5 , 0 0 0 face value On January 1 9 , Dux issued a 5 stock dividend ( 1 , 0 0 0 shares ) The market price of the $ 1 0 par value common stock was $ 1 4 per share at that time Cash dividends of $ 1 2 , 0 0 0 were paid to shareholders On November 1 2 , 1 , 0 0 0 shares of common stock were repurchased as treasury stock at a cost of $ 1 2 , 0 0 0 Required Prepare the statement of cash flows of Dux Company for the year ended December 3 1 , 2 0 2 4 Present cash flows from operating activities by the direct method ", "question_description": "