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 000s) 2018 2017 Assets Cash $ 59 $ 33 Accounts receivable 57 73 Less: Allowance for uncollectible accounts (6) (5) Dividends receivable 6 4 Inventory 81 63 Long-term investment 41 23 Land 125 65 Buildings and equipment 212 276 Less: Accumulated depreciation Liabilities Accounts payable Salaries payable (38) (76) $537 $ 456 $ 26 $ 46 6 Interest payable 8 Income tax payable Notes payable Bonds payable 20 60 121 8 Less: Discount on bonds Shareholders' Equity Common stock Paid-in capital-excess of par Retained earnings Less: Treasury stock (15) (29) 223 213 34 33 75 (21) $537 DUX COMPANY Income Statement For Year Ended December 31, 2018 Revenues Sales revenue ($ in 000s) Dividend revenue Expenses $320 8 $328 Cost of goods sold 133 Salaries expense 38 Depreciation expense 31 Bad debt expense 1 Interest expense 21 Loss on sale of building 9 Income tax expense 30 263 Net income $ 65 Additional information from the accounting records: a. A building that originally cost $92,000, and which was three-fourths depreciated, was sold for $14,000. b. The common stock of Byrd Corporation was purchased for $18,000 as a long-term investment. c. Property was acquired by issuing a 15%, seven-year, $60,000 note payable to the seller. d. New equipment was purchased for $28,000 cash. e. On January 1, 2018, bonds were sold at their $38,000 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 $11 per share at that time. g. Cash dividends of $51,000 were paid to shareholders. h. On November 42,000 shares of common stock were repurchased as treasury stock at a cost of $21,000