The comparative balance sheets for $2024$ and $2023$ and the statement of income for $2024$ are given below for Dux Company. Additional information from Dux$$s accounting records is provided also.

DUX COMPANY

Comparative Balance Sheets

December $31,2024$ and $2023$

$($$ in thousands$)$

$20242023$

Assets

Cash $ $81\mathrm{.}0$ $ $28\mathrm{.}0$

Accounts receivable $56\mathrm{.}058\mathrm{.}0$

Less: Allowance for uncollectible accounts $(4\mathrm{.}0)(3\mathrm{.}0)$

Dividends receivable $11\mathrm{.}010\mathrm{.}0$

Inventory $63\mathrm{.}058\mathrm{.}0$

Long$-$term investment $23\mathrm{.}018\mathrm{.}0$

Land $78\mathrm{.}040\mathrm{.}0$

Buildings and equipment $193\mathrm{.}0258\mathrm{.}0$

Less: Accumulated depreciation $(13\mathrm{.}0)(90\mathrm{.}0)$

$ $488\mathrm{.}0$ $ $377\mathrm{.}0$

Liabilities

Accounts payable $ $21\mathrm{.}0$ $ $28\mathrm{.}0$

Salaries payable $10\mathrm{.}013\mathrm{.}0$

Interest payable $12\mathrm{.}010\mathrm{.}0$

Income tax payable $15\mathrm{.}016\mathrm{.}0$

Notes payable $38\mathrm{.}00$

Bonds payable $99\mathrm{.}066\mathrm{.}0$

Less: Discount on bonds $(2\mathrm{.}0)(3\mathrm{.}0)$

Shareholders' Equity

Common stock $210\mathrm{.}0200\mathrm{.}0$

Paid$-$in capital$$excess of par $24\mathrm{.}020\mathrm{.}0$

Retained earnings $69\mathrm{.}027\mathrm{.}0$

Less: Treasury stock $(8\mathrm{.}0)0$

$ $488\mathrm{.}0$ $ $377\mathrm{.}0$

DUX COMPANY

Income Statement

For the Year Ended December $31,2024$

$($$ in thousands$)$

Revenues

Sales revenue $ $320\mathrm{.}0$

Dividend revenue $11\mathrm{.}0$ $ $331\mathrm{.}0$

Expenses

Cost of goods sold $136\mathrm{.}0$

Salaries expense $41\mathrm{.}0$

Depreciation expense $1\mathrm{.}0$

Bad debt expense $1\mathrm{.}0$

Interest expense $24\mathrm{.}0$

Loss on sale of building $19\mathrm{.}0$

Income tax expense $32\mathrm{.}0254\mathrm{.}0$

Net income $ $77\mathrm{.}0$

Additional information from the accounting records:

A building that originally cost $$104,000,$ and which was three$-$fourths depreciated, was sold for $$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, $$38,000$ note payable to the seller.

New equipment was purchased for $$39,000$ cash.

On January $1,2024,$ bonds were sold at their $$33,000$ 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 $$21,000$ were paid to shareholders.

On November $12,12,500$ shares of common stock were repurchased as treasury stock at a cost of $$8,000.$