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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

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.

DUX COMPANY Comparative Balance Sheets December 31, 2018 and 2017 ($ in 000s)
2018 2017
Assets
Cash $ 52 $ 25
Accounts receivable 42 55
Less: Allowance for uncollectible accounts (4 ) (3 )
Dividends receivable 4 3
Inventory 75 70
Long-term investment 22 20
Land 85 65
Buildings and equipment 180 200
Less: Accumulated depreciation (18 ) (40 )
$ 438 $ 395
Liabilities
Accounts payable $ 11 $ 13
Salaries payable 4 8
Interest payable 6 3
Income tax payable 9 10
Notes payable 20 0
Bonds payable 120 95
Less: Discount on bonds (5 ) (6 )
Shareholders' Equity
Common stock 210 200
Paid-in capitalexcess of par 24 20
Retained earnings 47 52
Less: Treasury stock (at cost) (9 ) 0
$ 438 $ 395

DUX COMPANY Income Statement For the Year Ended December 31, 2018 ($ in 000s)
Revenues
Sales revenue $ 250
Dividend revenue 4 $ 254
Expenses
Cost of goods sold $ 145
Salaries expense 35
Depreciation expense 8
Bad debt expense 1
Interest expense 10
Loss on sale of building 4
Income tax expense $ 28 231
Net income $ 23

Additional information from the accounting records:

  1. A building that originally cost $40,000, and which was three-fourths depreciated, was sold for $6,000.
  2. The common stock of Byrd Corporation was purchased for $2,000 as a long-term investment.
  3. Property was acquired by issuing a 14%, seven-year, $20,000 note payable to the seller.
  4. New equipment was purchased for $20,000 cash.
  5. On January 1, 2018, bonds were sold at their $25,000 face value.
  6. 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.
  7. Cash dividends of $13,000 were paid to shareholders.
  8. On November 12, 500 shares of common stock were repurchased as treasury stock at a cost of $9,000.

Prepare the statement of cash flows for Dux Company. Use the T-account method to assist in your analysis. (Do not round your intermediate calculations. Enter your answers in thousands. Amounts to be deducted should be indicated with a minus sign.)

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