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The comparative balance sheets for 2021 and 2020 and the statement of income for 2021 are given below for Dux Company. Additional information from Duxs

The comparative balance sheets for 2021 and 2020 and the statement of income for 2021 are given below for Dux Company. Additional information from Duxs accounting records is provided also.

DUX COMPANY Comparative Balance Sheets December 31, 2021 and 2020 ($ in thousands)
2021 2020
Assets
Cash $ 123.0 $ 35.0
Accounts receivable 63.0 65.0
Less: Allowance for uncollectible accounts (4.0 ) (3.0 )
Dividends receivable 18.0 17.0
Inventory 70.0 65.0
Long-term investment 30.0 25.0
Land 85.0 40.0
Buildings and equipment 165.0 265.0
Less: Accumulated depreciation (8.0 ) (125.0 )
$ 542.0 $ 384.0
Liabilities
Accounts payable $ 28.0 $ 35.0
Salaries payable 17.0 20.0
Interest payable 19.0 17.0
Income tax payable 22.0 23.0
Notes payable 45.0 0
Bonds payable 92.0 52.0
Less: Discount on bonds (2.0 ) (3.0 )
Shareholders' Equity
Common stock 210.0 200.0
Paid-in capitalexcess of par 24.0 20.0
Retained earnings 95.0 20.0
Less: Treasury stock (8.0 ) 0
$ 542.0 $ 384.0

DUX COMPANY Income Statement For the Year Ended December 31, 2021 ($ in thousands)
Revenues
Sales revenue $ 425.0
Dividend revenue 18.0 $ 443.0
Expenses
Cost of goods sold 150.0
Salaries expense 55.0
Depreciation expense 3.0
Bad debt expense 1.0
Interest expense 38.0
Loss on sale of building 33.0
Income tax expense 46.0 326.0
Net income $ 117.0

Additional information from the accounting records:

  1. A building that originally cost $160,000, and which was three-fourths depreciated, was sold for $7,000.
  2. The common stock of Byrd Corporation was purchased for $5,000 as a long-term investment.
  3. The property was acquired by issuing a 13%, seven-year, $45,000 note payable to the seller.
  4. New equipment was purchased for $60,000 cash.
  5. On January 1, 2021, bonds were sold at their $40,000 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 $28,000 were paid to shareholders.
  8. On November 12, 12,500 shares of common stock were repurchased as treasury stock at a cost of $8,000.

Required: Prepare the statement of cash flows for Dux Company using the indirect method. (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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