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)20212020AssetsCash$51.0$23.0Accounts receivable51.053.0Less: Allowance for uncollectible accounts(5.0)(4.0)Dividends receivable6.05.0Inventory58.053.0Long-term investment18.013.0Land73.040.0Buildings and equipment213.0253.0Less: Accumulated depreciation(20.0)(65.0)$445.0$371.0LiabilitiesAccounts payable$16.0$23.0Salaries payable5.08.0Interest payable7.05.0Income tax payable10.011.0Notes payable33.00Bonds payable89.061.0Less: Discount on bonds(2.0)(3.0)Shareholders' EquityCommon stock210.0200.0Paid-in capital?excess of par24.020.0Retained earnings61.046.0Less: Treasury stock(8.0)0$445.0$371.0

DUX COMPANY

Income Statement

For the Year Ended December 31, 2021

($ in thousands)RevenuesSales revenue$245.0Dividend revenue6.0$251.0ExpensesCost of goods sold126.0Salaries expense31.0Depreciation expense3.0Bad debt expense1.0Interest expense14.0Loss on sale of building9.0Income tax expense22.0206.0Net income$45.0

Additional information from the accounting records:

1. A building that originally cost $64,000, 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. Property was acquired by issuing a 13%, seven-year, $33,000 note payable to the seller.
4. New equipment was purchased for $24,000 cash.
5. On January 1, 2021,bonds were sold at their $28,000 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 $16,000 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.

https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%2 Apply: Homework [due day 7] i Saved DUX COMPANY Income Statement For the Year Ended December 31, 2021 ($ in thousands) Revenues Sales revenue Dividend revenue $245.0 6.0 $251.0 Expenses Cost of goods sold 126.0 Salaries expense 31.0 Depreciation expense 3.0 Bad debt expense 1.0 Interest expense 14.0 Loss on sale of building 9.0 Income tax expense 22.0 206.0 Net income $ 45.0 Ices Additional information from the accounting records: a. A building that originally cost $64,000, and which was three-fourths depreciated, was sold for $7,000. b. The common stock of Byrd Corporation was purchased for $5,000 as a long-term investment c. Property was acquired by issuing a 13%, seven-year, $33,000 note payable to the seller. d. New equipment was purchased for $24,000 cash. e. On January 1, 2021, bonds were sold at their $28,000 face value. f. On January 19, Dux issued a 5% stock dividend (1,000 shares). The market price of the $10 par value common share at that time. g. Cash dividends of $16,000 were paid to shareholders. h. On November 12, 12,500 shares of common stock were repurchased as treasury stock at a cost of $8.000DUX COMPANY Statement of Cash Flows For year ended December 31, 2021 ($ in 000s) Cash flows from operating activities: Net income Adjustments for noncash effects: Changes in operating assets and liabilities: Net cash flows from operating activities CA 0 Cash flows from investing activitiesJollaunchUrl=https%2 Apply: Homework [due day 7] Saved Comparative Balance Sheets December 31, 2021 and 2020 ($ in thousands) Assets 2021 2020 Cash Accounts receivable $ 51.0 $ 23.0 Less: Allowance for uncollectible accounts 51.0 53.0 Dividends receivable (5.0) (4.0) Inventory 6.0 5.0 Long-term investment 58.0 53.0 Land 18.0 13.0 73.0 40.0 Buildings and equipment 213.0 253.0 Less: Accumulated depreciation (20.0) (65.0) $445.0 $371.0 Liabilities ices Accounts payable $ 16.0 $ 23.0 Salaries payable 5.0 8.0 Interest payable 7.0 5.0 Income tax payable 10.0 11.0 Notes payable 33.0 Bonds payable 89.0 61.0 Less: Discount on bonds (2.0) (3.0) Shareholders' Equity Common stock 210.0 200.0 Paid-in capital-excess of par 24.0 20.0 Retained earnings 61.0 46.0 Less: Treasury stock (8.0) $445.0 $371.0 DUX COMPANYHomework [due day 7] i Saved Net cash flows from operating activities $ 0 Cash flows from investing activities: Net cash flows from investing activities Cash flows from financing activities: Net cash flows from financing activities Net increase in cash Cash balance, January 1 Cash balance, December 31 Noncash investing and financing activities