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The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are given below for Wright Company. Additional information from Wright's accounting records is provided also. 2017 WRIGHT COMPANY Comparative Balance Sheets December 31, 2018 and 2017 ($ in 000s) 2018 Assets Cash 90 Accounts receivable 100 Short-term investment 46 Inventory 102 Land 74 Buildings and equipment 585 Less: Accumulated depreciation (151) $ 846 Liabilities Accounts payable $ 34 Salaries payable 3 Interest payable 7 Income tax payable 9 Notes payable 0 Bonds payable 210 Shareholders' Equity Common stock 325 Paid-in capital-excess of par 153 Retained earnings 105 $ 846 60 105 20 100 90 460 (105) 730 34 $ 41 8 15 25 160 260 130 85 $ 730 WRIGHT COMPANY Income Statement For Year Ended December 31, 2018 ($ in 00s) Revenues : Sales revenue $ 440 Expenses: Cost of goods sold Salaries expense 55 Depreciation expense 46 Interest expense 15 Loss on sale of land 4 Income tax expense 60 370 Net income $ 70 $ 190 Additional information from the accounting records: a. Land that originally cost $16,000 was sold for $12,000. b. The common stock of Microsoft Corporation was purchased for $26,000 as a short-term investment not classified as a cash equivalent c. New equipment was purchased for $125,000 cash. d. A $25,000 note was paid at maturity on January 1. e. On January 1, 2018, bonds were sold at their $50,000 face value. f. Common stock ($65,000 par) was sold for $88,000. g. Net income was $70,000 and cash dividends of $50,000 were paid to shareholders. Required: Prepare the statement of cash flows of Wright Company for the year ended December 31, 2018. Present cash flows from operating activities by the direct method. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands (i.e., 5,000 should be entered as 5).) The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are given below for Dux Company. Additional information from Dux's accounting records is provided also. DUX COMPANY Comparative Balance Sheets December 31, 2018 and 2017 ($ in 000) 2018 2017 Assets Cash Accounts receivable Less: Allowance for uncollectible accounts Dividends receivable Inventory Long-term investment Land Buildings and equipment Less: Accumulated depreciation $ 59 $ 33 57 73 (6) (5) 6 4 81 63 41 23 125 65 212 276 (38) (76) $ 537 $ 456 Liabilities Accounts payable Salaries payable Interest payable Income tax payable Notes payable Bond payable Less: Discount on bonds Shareholders' Equity Common stock Paid-in capital-excess of par Retained earnings Less: Treasury stock a * $ 46 8 6 24 0 83 (29) (15) 213 33 72 (21) $ 537 $ 456 DUX COMPANY Income Statement For Year Ended December 31, 2018 ($ in 000) Revenues Sales revenue $320 Dividend revenue 8 $ 328 Expenses Cost of goods sold 133 Salaries expense Depreciation expense Bad debt expense Interest expense Loss on sale of building Income tax expense 263 Net income $ 65 R8 Additional information from the accounting records: a. A building that originally cost $92,000, and which was three-fourths depreciated, was sold for $14,000. b. The common stock of Byrd Corporation was purchased for $18,000 as a long-term investment. c. Property was acquired by issuing a 15%, seven-year, $60,000 note payable to the seller. d. New equipment was purchased for $28,000 cash. e. On January 1, 2018, bonds were sold at their $38,000 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 $11 per share at that time. g. Cash dividends of $51,000 were paid to shareholders. h. On November 42,000 shares of common stock were repurchased as treasury stock at a cost of $21,000