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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 $ 61 $ 34
Accounts receivable 58 75
Less: Allowance for uncollectible accounts (3 ) (2 )
Dividends receivable 3 1
Inventory 83 64
Long-term investment 43 24
Land 131 70
Buildings and equipment 211 278
Less: Accumulated depreciation (39 ) (78 )
$ 548 $ 466
Liabilities
Accounts payable $ 27 $ 48
Salaries payable 3 5
Interest payable 5 2
Income tax payable 21 26
Notes payable 61 0
Bonds payable 123 84
Less: Discount on bonds (16 ) (31 )
Shareholders' Equity
Common stock 224 214
Paid-in capitalexcess of par 36 34
Retained earnings 86 84
Less: Treasury stock (22 ) 0
$ 548 $ 466

DUX COMPANY Income Statement For Year Ended December 31, 2018 ($ in 000s)
Revenues
Sales revenue $ 325
Dividend revenue 9 $ 334
Expenses
Cost of goods sold 134
Salaries expense 39
Depreciation expense 33
Bad debt expense 1
Interest expense 22
Loss on sale of building 6
Income tax expense 31 266
Net income $ 68

Additional information from the accounting records:

  1. A building that originally cost $96,000, and which was three-fourths depreciated, was sold for $18,000.
  2. The common stock of Byrd Corporation was purchased for $19,000 as a long-term investment.
  3. Property was acquired by issuing a 10%, seven-year, $61,000 note payable to the seller.
  4. New equipment was purchased for $29,000 cash.
  5. On January 1, 2018, bonds were sold at their $39,000 face value.
  6. On January 19, Dux issued a 4% stock dividend (1,000 shares). The market price of the $10 par value common stock was $12 per share at that time.
  7. Cash dividends of $54,000 were paid to shareholders.
  8. On November 44,000 shares of common stock were repurchased as treasury stock at a cost of $22,000.

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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