The comparative balance sheets for 2021 and 2020 and the statement of income for 2021 are given below for Dux Company Additional information from Dux's accounting records is provided also DUX COMPANY Comparative Balance Sheets December 31, 2021 and 2020 ($ in thousands) 2021 2020 Assets Cash Accounts receivable Lesst Allowance for uncollectible accounts Dividends receivable Inventory Long-ters Investment Land Buildings and equipment Less Accumulated depreciation $ 102 53 (3) 5 90 52 95 282 (52) $ 544 $ 48 67 (2) 4 85 46 75 220 (90) $ 453 $64 Babilities Accounts payable Salaries payable Interest payable Income tax payable Notes payable Bonds payable Less Discount on bonds Shareholders' Equity Common stock Pald-in capital excess of par Retained earnings Less Treasury stock 537 2 10 10 20 85 (3) 60 210 24 157 (8) 200 20 91 LIGULIUS Accounts payable Salaries payable Interest payable Income tax payable Notes payable Bonds payable Less: Discount on bonds Shareholders' Equity Common stock Paid-in capital-excess of par Retained earnings Less: Treasury stock $ 37 2 10 10 20 85 (3) $ 64 7 4 11 @ 60 (4) 210 24 157 (8) $ 544 280 20 91 8 $ 453 DUX COMPANY Income Statement For the Year Ended December 31, 2021 ($ in thousands) Revenues Sales revenue $ 380 Dividend revenue 5 $ 385 Expenses Cost of goods sold 210 Salaries expense 34 Depreciation expense 7 Bad debt expense 1 Interest expense 8 Loss on sale of building 2 Income tax expense 29 291 Net income $ 94 Additional information from the accounting records a A building that originally cost $60,000, and which was three-fourths depreciated, was sold for $13,000. b. The common stock of Byrd Corporation was purchased for $6,000 as a long-term investment c Property was acquired by issuing a 13%, seven year, $20,000 note payable to the seller. d New equipment was purchased for $42.000 cash e. On January 1, 2021, 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 g Cash dividends of $14,000 were paid to shareholders h On November 12, 1.000 shares of common stock were repurchased as treasury stock at a cost of $8,000. Required: Prepare the statement of cash flows of Dux Company for the year ended December 31, 2021. Present cash flows from operating activities by the direct method. (Do not round your intermediate calculations. Enter your answers in thousands (ie. 10,000 should be entered os 10). Amounts to be deducted should be indicated with a minus sign.)
