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The comparative balance sheets for 2016 and 2015 and the statement of income for 2016 are given below for Dux Company. Additional information from Duxs

The comparative balance sheets for 2016 and 2015 and the statement of income for 2016 are given below for Dux Company. Additional information from Duxs accounting records is provided also.

DUX COMPANY Comparative Balance Sheets December 31, 2016 and 2015 ($ in 000s)
2016 2015
Assets
Cash $ 63 $ 35
Accounts receivable 59 77
Dividends receivable 2 1
Inventory 85 65
Long-term investment 45 25
Land 136 71
Buildings and equipment 210 280
Less: Accumulated depreciation (40) (80)
$ 560 $ 474
Liabilities
Accounts payable $ 28 $ 50
Salaries payable 2 7
Interest payable 4 3
Income tax payable 22 23
Notes payable 65 0
Bonds payable 125 85
Less: Discount on bonds (17) (33)
Shareholders' Equity
Common stock 225 215
Paid-in capitalexcess of par 37 35
Retained earnings 92 89
Less: Treasury stock (23) 0
$ 560 $ 474

DUX COMPANY Income Statement For Year Ended December 31, 2016 ($ in 000s)
Revenues
Sales revenue $ 333
Dividend revenue 6 $ 339
Expenses
Cost of goods sold 135
Salaries expense 40
Depreciation expense 35
Interest expense 23
Loss on sale of building 4
Income tax expense 32 269
Net income $ 70

Additional information from the accounting records:
a. A building that originally cost $100,000, and which was three-fourths depreciated, was sold for $21,000.
b. The common stock of Byrd Corporation was purchased for $20,000 as a long-term investment.
c. Property was acquired by issuing a 14%, seven-year, $65,000 note payable to the seller.
d. New equipment was purchased for $30,000 cash.
e. On January 1, 2016, $40,000 of bonds were sold at 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 $55,000 were paid to shareholders.
h.

On November 46,000 shares of common stock were repurchased as treasury stock at a cost of $23,000.

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).))

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