Problem 21-4 (Algo) Statement of cash flows; direct method [LO21-3, 21-8] The comparative balance sheets for 2021 and 2020 and the statement of income for 2021 are given below for Dux Company. Additional information from Dux's accounting records is provided also. DUX COMPANY Comparative Balance Sheets December 31, 2021 and 2e2e ($ in thousands) 2021 2020 Assets Cash $ 92 $ 49 Accounts receivable 62 69 Less: Allowance for uncollectible accounts (3) Dividends receivable 3 2 Inventory 95 90 Long-term investment 53 48 Land 195 80 Buildings and equipment 209 230 Less: Accumulated depreciation (60) (100) $ 555 $ 465 Liabilities Accounts payable $ 38 $ 66 Salaries payable 8 Interest payable Income tax payable 11 12 Notes payable 25 Bonds payable 90 65 Less: Discount on bonds (5) Shareholders' Equity Common stock 210 200 Paid-in capital-excess of par 24 2e Retained earnings 168 94 Less: Treasury stock (9) $ 555 $ 465 4 6 5 (4) 11 . DUX COMPANY Income Statement For the Year Ended December 31, 2021 ($ in thousands) Revenues Sales revenue $ 390 Dividend revenue 3 $ 393 Expenses Cost of goods sold 215 Salaries expense 36 Depreciation expense 8 Bad debt expense 1 Interest expense 9 Loss on sale of building 2 Income tax expense 31 302 Net income $ 91 a. A building that originally cost $64,000, and which was three-fourths depreciated, was sold for $14.000. b. The common stock of Byrd Corporation was purchased for $5,000 as a long-term investment. c. Property was acquired by issuing a 14%, seven-year, $25,000 note payable to the seller. d. New equipment was purchased for $43,000 cash. e. On January 1, 2021. 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 $11,000 were paid to shareholders. h. On November 12, 1.000 shares of common stock were repurchased as treasury stock at a cost of $9.000. Required: Prepare the statement of cash flows of Dux Company for the year ended December 31, 2021. Present cash flows from operating activities by the direct method. (Do not round your Intermediate calculations. Enter your answers in thousands (l.e., 10,000 should be entered as 10). Amounts to be deducted should be Indicated with a minus sign.) DUX COMPANY Statement of Cash Flows For the year ended December 31, 2021 ($ in thousands) Cash flows from operating activities: Cash inflows: Cash outflows: Net cash flows from operating activities Cash flows from investing activities: Net cash flows from investing activities Cash flows from financing activities: Net cash flows from financing activities Net increase (decrease) in cash Cash balance, January 1 Cash balance, December 31 Noncash investing and financing activities