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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 Dux's

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 $ 87 $ 32
Accounts receivable 43 63
Less: Allowance for uncollectible accounts (5 ) (4 )
Dividends receivable 6 5
Inventory 60 55
Long-term investment 36 34
Land 60 45
Buildings and equipment 270 270
Less: Accumulated depreciation (41 ) (60 )
$ 516 $ 440
Liabilities
Accounts payable $ 22 $ 48
Salaries payable 5 8
Interest payable 6 2
Income tax payable 10 12
Notes payable 15 0
Bonds payable 105 80
Less: Discount on bonds (2 ) (3 )
Shareholders' Equity
Common stock 210 200
Paid-in capitalexcess of par 24 20
Retained earnings 128 73
Less: Treasury stock (at cost) (7 ) 0
$ 516 $ 440

DUX COMPANY Income Statement For the Year Ended December 31, 2018 ($ in 000s)
Revenues
Sales revenue $ 320
Dividend revenue 6 $ 326
Expenses
Cost of goods sold 180
Salaries expense 22
Depreciation expense 8
Bad debt expense 1
Interest expense 7
Loss on sale of building 1
Income tax expense 24 243
Net income $ 83

Additional information from the accounting records:

  1. A building that originally cost $36,000, and which was three-fourths depreciated, was sold for $8,000.
  2. The common stock of Byrd Corporation was purchased for $2,000 as a long-term investment.
  3. Property was acquired by issuing a 15%, seven-year, $15,000 note payable to the seller.
  4. New equipment was purchased for $36,000 cash.
  5. On January 1, 2018, bonds were sold at their $25,000 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 $14,000 were paid to shareholders.
  8. On November 12, 500 shares of common stock were repurchased as treasury stock at a cost of $7,000.

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. (Do not round your intermediate calculations. Enter your answers in thousands (i.e., 5,000 should be entered as 5). Amounts to be deducted should be indicated with a minus sign.)

DUX COMPANY
Statement of Cash Flows
For year ended December 31, 2018
($ in 000s)
Cash flows from operating activities:
Cash inflows:
From customers $340
From dividends received 5
Cash outflows:
To suppliers of goods (211)
To employees
For interest
For income taxes
Net cash flows from operating activities $159
Cash flows from investing activities:
Sale of building
Purchase of long-term investment
Purchase of equipment
Net cash flows from investing activities 0
Cash flows from financing activities:
Sale of bonds payable
Payment of cash dividends
Purchase of treasury stock
Net cash flows from financing activities 0
Net increase in cash
$0
Noncash investing and financing activities:

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