36 The comparative balance sheets for 2021 and 2020 and the statement of income for 2021 are given below for Dux Company. Additional information from Dux's accounting records is provided also. DOX COMPANY Comparative Balance Sheets December 31, 2021 and 2020 ($ in thousands) 2021 2020 Assets Canh $ 78 33 Accounts receivable 53 TAD Allowance for uncollectible accounts (6) (5) Dividends receivable 3 2 Inventory 65 60 Long-term investment 40 Land 70 50 Buildings and equipment 277 280 Lean: Accumulated depreciation (45) (70) $ 535 $ 451 Liabilities Accounts payable $30 $ 56 Salaries payable 6 2 Interest payable 9 3 Income tax payable 3 6 Notes payable 20 Bonds payable 110 85 Lost Discount on bonds (3) (4) Shareholders' Equity Common stock 210 200 Pald-in capitales of par 24 20 Retained earnings 132 76 LAR Treasury stoek (8) 0 $535 $451 DUX COMPANY Income Statement For the Year Ended December 31, 2021 (5 in thousands) Revenues Sales reven $330 Dividend revenue 353) Expenses Cost of goods sold 185 DUX COMPANY Income Statement Por the Year Ended December 31, 2021 Es in thousands) Ravenues Sales revenue $ 330 Dividend revenue 3 $ 333 Expenses Cost of goods sold 185 Salaries expense 24 Depreciation expense 5 Bad debt expense 1 Interest expense 10 Loss on sale of building 3 Income tax expense 24 252 Net income $ 81 Additional information from the accounting records: a. A building that originally cost $40,000, and which was three-fourths depreciated, was sold for $7,000. b. The common stock of Byrd Corporation was purchased for $4,000 as a long-term investment. c. Property was acquired by Issuing a 14%, seven-year, $20,000 note payable to the seller. d. New equipment was purchased for $37,000 cash. e. On January 1, 2021, bonds were sold at their $25,000 face value. f. On January 19, Dux issued a 5% stock dividend (1,000 shares). The market price of the $10 par value common stock was $14 per share at that time. g. Cash dividends of $11,000 were paid to shareholders, h. On November 12, 1.000 shares of common stock were repurchased as treasury stock at a cost of $8,000 Required: Prepare the statement of cash flows of Dux Company for the year ended December 31, 2021. Present cash flows from operating activities by the direct method. (Do not round your intermediate calculations. Enter your answers in thousands (.e. 10,000 should be entered as 10). Amounts to be deducted should be indicated with a minus sign.) DUX COMPANY Statement of Cash Flows For the year ended December 31, 2021 ($ in thousands) Cash flows from operating activities: Cash inflows: Cash outflows: Net cash flows from operating activities Cash flows from investing activities: Net cash flows from investing activities Cash flows from financing activities