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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 $ 67 $ 37
Accounts receivable 61 81
Less: Allowance for uncollectible accounts (6 ) (5 )
Dividends receivable 4 3
Inventory 89 67
Long-term investment 49 27
Land 143 73
Buildings and equipment 208 284
Less: Accumulated depreciation (42 ) (84 )
$ 573 $ 483
Liabilities
Accounts payable $ 30 $ 54
Salaries payable 4 10
Interest payable 6 4
Income tax payable 24 30
Notes payable 70 0
Bonds payable 129 87
Less: Discount on bonds (19 ) (37 )
Shareholders' Equity
Common stock 227 217
Paid-in capitalexcess of par 38 37
Retained earnings 84 81
Less: Treasury stock (20 ) 0
$ 573 $ 483

DUX COMPANY Income Statement For Year Ended December 31, 2018 ($ in 000s)
Revenues
Sales revenue $ 360
Dividend revenue 9 $ 369
Expenses
Cost of goods sold 137
Salaries expense 42
Depreciation expense 39
Bad debt expense 1
Interest expense 25
Loss on sale of building 3
Income tax expense 34 281
Net income $ 88

Additional information from the accounting records:

  1. A building that originally cost $108,000, and which was three-fourths depreciated, was sold for $24,000.
  2. The common stock of Byrd Corporation was purchased for $22,000 as a long-term investment.
  3. Property was acquired by issuing a 15%, seven-year, $70,000 note payable to the seller.
  4. New equipment was purchased for $32,000 cash.
  5. On January 1, 2018, bonds were sold at their $42,000 face value.
  6. On January 19, Dux issued a 3% stock dividend (1,000 shares). The market price of the $10 par value common stock was $11 per share at that time.
  7. Cash dividends of $74,000 were paid to shareholders.
  8. On November 40,000 shares of common stock were repurchased as treasury stock at a cost of $20,000.

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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