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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

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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 Dux's accounting records is provided also. DUX COMPANY Comparative Balance Sheets December 31, 2018 and 2017 ($ in 00 0g 201 _2017 $ 33 $ 20 50 ( 4 ) (3) 2 Assets Cash Accounts receivable Less: Allowance for uncollectible accounts Dividends receivable Inventory Long-term investment Land Buildings and equipment Less: Accumulated depreciation 10 225 (25 $ 420 250 (50) $ 369 , 20 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 | 95 (2) 70 3) _210 _200 2420 ( 8 $ 420 $ 369 DUX COMPANY Income Statement For the Year Ended December 31, 2018 ($ in 000s) Revenues Sales revenue $ 200 Dividend revenue 3 $ 203 Expenses Cost of goods sold 120 Salaries expense Depreciation expense Bad debt expense Interest expense Loss on sale of building Income tax expense Net income owo UUM Additional information from the accounting records: a. A building that originally cost $40,000, and which was three-fourths depreciated, was sold for $7,000. b. The common stock of Byrd Corporation was purchased for $5,000 as a long-term investment. c. Property was acquired by issuing a 13%, seven-year, $30,000 note payable to the seller. d. New equipment was purchased for $15,000 cash. e. On January 1, 2018, bonds were sold at their $25,000 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 $8,000. Required: Prepare the statement of cash flows for Dux Company using the indirect method. (Do not round intermediate calculations. Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands. (i.e., 10,000 should be entered as 10).) DUX COMPANY Statement of Cash Flows For year ended December 31, 2018 ($ in 000s) Cash flows from operating activities: Adjustments for noncash effects: Changes in operating assets and liabilities: Net cash flows from operating activities Cash flows from investing activities: UUI. FU TUTUSTE UUTUU. Net cash flows from investing activities Cash flows from financing activities: Net cash flows from financing activities Cash balance, January 1 $ 0 Noncash investing and financing activities

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