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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 $ 65 $ 36
Accounts receivable 60 79
Less: Allowance for uncollectible accounts (5 ) (4 )
Dividends receivable 5 2
Inventory 87 66
Long-term investment 47 26
Land 138 72
Buildings and equipment 209 282
Less: Accumulated depreciation (41 ) (82 )
$ 565 $ 477
Liabilities
Accounts payable $ 29 $ 52
Salaries payable 5 8
Interest payable 7 4
Income tax payable 23 25
Notes payable 66 0
Bonds payable 127 86
Less: Discount on bonds (18 ) (35 )
Shareholders' Equity
Common stock 226 216
Paid-in capitalexcess of par 40 36
Retained earnings 84 85
Less: Treasury stock (24 ) 0
$ 565 $ 477

DUX COMPANY Income Statement For Year Ended December 31, 2018 ($ in 000s)
Revenues
Sales revenue $ 345
Dividend revenue 5 $ 350
Expenses
Cost of goods sold 136
Salaries expense 41
Depreciation expense 37
Bad debt expense 1
Interest expense 24
Loss on sale of building 6
Income tax expense 33 278
Net income $ 72

Additional information from the accounting records:

  1. A building that originally cost $104,000, and which was three-fourths depreciated, was sold for $20,000.
  2. The common stock of Byrd Corporation was purchased for $21,000 as a long-term investment.
  3. Property was acquired by issuing a 12%, seven-year, $66,000 note payable to the seller.
  4. New equipment was purchased for $31,000 cash.
  5. On January 1, 2018, bonds were sold at their $41,000 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 $59,000 were paid to shareholders.
  8. On November 48,000 shares of common stock were repurchased as treasury stock at a cost of $24,000.

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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