8 The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are given below for Dux Company. Additional information from Dux's accounting records is provided also. 1.1 points eBook Print Reference DUX COMPANY Comparative Balance Sheets December 31, 2018 and 2017 ($ in 000s) 2018 2017 Assets Cash $ 94 $ 31 $ Accounts receivable 61 Less: Allowance for uncollectible (3) accounts 3 Dividends receivable 4 Inventory 50 Long-term investment 32 Land 40 Buildings and equipment 260 Less: Accumulated depreciation (35) (50) $500 $425 Liabilities Accounts payable $ 21 $ 39 Salaries payable Interest payable Income tax payable Notes payable Bonds payable Less: Discount on bonds Shareholders' Equity Common stock Paid-in capital-excess of par Retained earnings Less: Treasury stock (at cost) () $500 $425 Small "="350 bozze Do Forro DUX COMPANY Income Statement For the Year Ended December 31, 2018 ($ in 000s) Revenues Sales revenue $310 Dividend revenue 5 $315 Expenses Cost of goods sold 175 Salaries expense 20 Depreciation 9 9 expense Bad debt expense 1 Interest expense 9 Loss on sale of 1 building Income tax expense 22 237 Net income $ 78 Additional information from the accounting records: a. A building that originally cost $32,000, and which was three-fourths depreciated, was sold for $7,000. b. The common stock of Byrd Corporation was purchased for $3,000 as a long-term investment. c. Property was acquired by issuing a 14%, seven-year, $10,000 note payable to the seller. d. New equipment was purchased for $35,000 cash. e. On January 1, 2018, bonds were sold at their $20,000 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 $13,000 were paid to shareholders. h. On November 12, 500 shares of common stock were repurchased as treasury stock at a cost of $5,000. Required: Prepare the statement of cash flows of Dux Company for the year ended December 31, 2018. Present cash flows from operating activities by the direct method. (Do not round your intermediate calculations. Enter your answers in thousands (i.e., 5,000 should be entered as 5). Amounts to be deducted should be indicated with a minus sign.) DUX COMPANY Statement of Cash Flows For year ended December 31, 2018 ($ in 000s) Cash flows from operating activities: Cash inflows: From customers From dividends received Cash outflows: To suppliers of goods To employees For interest For income taxes $ 0 Net cash flows from operating activities Cash flows from investing activities: Sale of building Purchase of long-term investment Purchase of equipment 0 Net cash flows from investing activities Cash flows from financing activities: Sale of bonds payable Purchase of treasury stock Payment of cash dividends 0 Net cash flows from financing activities Net increase in cash Cash balance, January 1 Cash balance, December 31 $ 0