Problem 21-16 (Algo) Statement of cash flows; indirect method [LO21-4, 21-8] The comparative balance sheets for 2024 and 2023 and the statement of income for 2024 are given below for Dux Company. Additional information from Duxs accounting records is provided also. DUX COMPANY Comparative Balance Sheets December 31, 2024 and 2023 ($ in thousands) 2024 2023 Assets Cash $ 129.0 $ 36.0 Accounts receivable 64.0 66.0 Less: Allowance for uncollectible accounts (5.0) (4.0) Dividends receivable 19.0 18.0 Inventory 71.0 66.0 Long-term investment 31.0 26.0 Land 86.0 40.0 Buildings and equipment 161.0 266.0 Less: Accumulated depreciation (6.0) (130.0) $ 550.0 $ 384.0 Liabilities Accounts payable $ 29.0 $ 36.0 Salaries payable 18.0 21.0 Interest payable 20.0 18.0 Income tax payable 23.0 24.0 Notes payable 46.0 0 Bonds payable 91.0 50.0 Less: Discount on bonds (2.0) (3.0) Shareholders' Equity Common stock 210.0 200.0 Paid-in capitalexcess of par 24.0 20.0 Retained earnings 99.0 18.0 Less: Treasury stock (8.0) 0 $ 550.0 $ 384.0 DUX COMPANY Income Statement For the Year Ended December 31, 2024 ($ in thousands) Revenues Sales revenue $ 440.0 Dividend revenue 19.0 $ 459.0 Expenses Cost of goods sold 152.0 Salaries expense 57.0 Depreciation expense 2.0 Bad debt expense 1.0 Interest expense 40.0 Loss on sale of building 35.0 Income tax expense 48.0 335.0 Net income $ 124.0 Additional information from the accounting records: A building that originally cost $168,000, and which was three-fourths depreciated, was sold for $7,000. The common stock of Byrd Corporation was purchased for $5,000 as a long-term investment. Property was acquired by issuing a 13%, seven-year, $46,000 note payable to the seller. New equipment was purchased for $63,000 cash. On January 1, 2024, bonds were sold at their $41,000 face value. 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. Cash dividends of $29,000 were paid to shareholders. On November 12, 12,500 shares of common stock were repurchased as treasury stock at a cost of $8,000. Required: Prepare the statement of cash flows for Dux Company using the indirect method.