9 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 DUX COMPANY Comparative Balance Sheets December 31, 2018 and 2017 ($ in 000s) 2018 2017 Assets Cash $ 69 $ 38 Accounts receivable 62 83 Less: Allowance for uncollectible accounts (3) (2) Dividends receivable 6 4 Inventory 91 68 Long-term investment 51 28 Land 145 74 Buildings and equipment 207 Less: Accumulated depreciation (43) (86) Print Reference $585 Liabilities Accounts payable 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 $ 31 $ 56 6 8 25 71 131 (20) (39) alangosh 228 40 91 (26) $585 218 38 87 0 $493 DUX COMPANY Income Statement For Year Ended December 31, 2018 ($ in 000s) Revenues Sales revenue $366 Dividend revenue 8 $374 Expenses Cost of goods sold 138 Salaries expense 43 Depreciation 41 expense Bad debt expense 1 Interest expense 26 Loss on sale of 5 5 building Income tax expense 35 289 Net income $ 85 $ Additional Information from the accounting records: a. A building that originally cost $112,000, and which was three-fourths depreciated, was sold for $23,000. b. The common stock of Byrd Corporation was purchased for $23,000 as a long-term investment c. Property was acquired by issuing a 10%, seven-year, $71,000 note payable to the seller. d. New equipment was purchased for $33,000 cash. e. On January 1, 2018, bonds were sold at their $43,000 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 $12 per share at that time. g. Cash dividends of $69.000 were paid to shareholders. h. On November 52,000 shares of common stock were repurchased as treasury stock at a cost of $26,000. Required: Prepare the statement of cash flows for Dux Company using the indirect method. (Do not round intermediate calculations. Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands. (i.e., 10,000 should be entered as 10).)) DUX COMPANY Statement of Cash Flows For year ended December 31, 2018 ($ in 000s) Cash flows from operating activities: Net income Adjustments for noncash effects: Changes in operating assets and liabilities: Net cash flows from operating activities $ 0 Cash flows from investing activities: Net cash flows from investing activities 0 Cash flows from financing activities: Net cash flows from financing activities Cash balance, January 1 Cash balance, December 31 $ 0 Noncash investing and financing activities: Acquired land