Problem 21-16 Statement of cash flows; indirect method [LO21-4, 21-8]

The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are given below for Dux Company. Additional information from Duxs accounting records is provided also.

Additional information from the accounting records:

a) A building that originally cost $96,000, and which was three-fourths depreciated, was sold for $18,000.

b) The common stock of Byrd Corporation was purchased for $19,000 as a long-term investment.

c) Property was acquired by issuing a 10%, seven-year, $61,000 note payable to the seller.

d) New equipment was purchased for $29,000 cash.

e) On January 1, 2018, bonds were sold at their $39,000 face value.

f) On January 19, Dux issued a 4% 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 $54,000 were paid to shareholders.

h) On November 44,000 shares of common stock were repurchased as treasury stock at a cost of $22,000.

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 Comparative Balance Sheets December 31, 2018 and 2017 (s in e00s) 2018 2017 AssetS Cash Accounts receivable $ 61 34 75 58 Less: Allowance for uncollectible accounts Dividends receivable Inventory Long-term investment Land Buildings and equipment 83 43 131 211 64 70 278 Less: Accumulated depreciation (39) (78) $ 548 $ 466 Liabilities Accounts payable Salaries payable Interest payable Income tax payable Notes payable Bonds payable $ 27 48 21 26 123 84 Less: Discount on bonds Shareholders' Equity Common stock Paid-in capital-excess of par Retained earnings (16) (31) 214 34 84 (22) e $ 548 $ 466 224 36 86 Less: Treasury stock