The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are given below for Dux Cpmpany. Additional information from Dux's accounting records is provided also DUX COMPANY Comparative Balance Sheets December 31. 2018 and 2017 (S in 000s) 2018 2017 Assets S 47 64 $ 107 46 4 85 51 85 Accounts receivable Dividends receivable 80 Long-term investment 70 210 (80) $ 438 Buildings and equipment 195 (44) 529 Less: Accumulated depreciation Liabilities S 40 S 59 Accounts payable Salaries payable Interest payable Income tax payable Notes payable Bonds payable 10 15 80 Less: Discount on bonds Shareholders' Equity Common stock Paid-in capital-excess of par Retained earnings 200 20 210 24 153 (12) Less: Treasury stock (at cost) S 529 $438 DUX COMPANY Income Statement For the Year Ended December 31, 2018 (S in 000s) Revenues S370 Sales revenue Dividend revenue 4$374 Expenses Cost of goods sold Salaries expense Depreciation expense Interest expense Loss on sale of building Income tax expense 205 32 283 S 91 29 Net income Additional information from the accounting records A building that originally cost $56,000, and which was three-fourths depreciated, was sold for $12,000 The common stock of Byrd Corporation was purchased for $7,000 as a long-term investment. Property was acquired by issuing a 15%, seven-year, $15,000 note payable to the seller New equipment was purchased for $41,000 cash. On January 1, 2018, bonds were sold at their $25,000 face value 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 Cash dividends of $12,000 were paid to shareholders On November 12, 1,000 shares of common stock were repurchased as treasury stock at a cost of $12,000 a. b. c. d. e. g. h. Required Prepare the statement of cash flows of Dux Company for the year ended December 31, 2018 Present cash flows from operating activities by the direct method. Prepare the reconciliation between net income and cash flows from operating activities if needed