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$65$22Accounts receivable3352Less: Allowance for uncollectible accounts(4)(3)Dividends receivable54Inventory4540Long-term investment1814Land6550Buildings and equipment259270Less: Accumulated depreciation(54)(70)$432$379LiabilitiesAccounts payable$21$23Salaries payable25Interest payable74Income tax payable67Notes payable150Bonds payable10580Less: Discount on bonds(2)(3)Shareholders' EquityCommon stock210200Paid-in capital?excess of par2420Retained earnings5043Less: Treasury stock(6)0$432$379

DUX COMPANY

Income Statement

For the Year Ended December 31, 2021

($ in thousands)RevenuesSales revenue$220Dividend revenue5$225ExpensesCost of goods sold130Salaries expense29Depreciation expense5Bad debt expense1Interest expense7Loss on sale of building3Income tax expense14189Net income$36

Additional information from the accounting records:

1. A building that originally cost $28,000, and which was three-fourths depreciated, was sold for $4,000.
2. The common stock of Byrd Corporation was purchased for $4,000 as a long-term investment.
3. Property was acquired by issuing a 11%, seven-year, $15,000 note payable to the seller.
4. New equipment was purchased for $17,000 cash.
5. On January 1, 2021, 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 $15,000 were paid to shareholders.
8. On November 12, 500 shares of common stock were repurchased as treasury stock at a cost of $6,000.

tion.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fvle.phoer Homework [due day 7] Saved Help DUX COMPANY Income Statement For the Year Ended December 31, 2021 Revenues ($ in thousands) Sales revenue $ 220 Dividend revenue 5 $ 225 Expenses Cost of goods sold 130 Salaries expense 29 Depreciation expense Bad debt expense Interest expense Loss on sale of building Income tax expense 14 189 Net income $ 36 Additional information from the accounting records: a. A building that originally cost $28,000, and which was three-fourths depreciated, was sold for $4,000. b. The common stock of Byrd Corporation was purchased for $4,000 as a long-term investment. c. Property was acquired by issuing a 11%, seven-year, $15,000 note payable to the seller. d. New equipment was purchased for $17,000 cash. e. On January 1, 2021, bonds were sold at their $25,000 face value. f. On January 19, Dux issued a 5% stock dividend (1,000 shares). The market price of the $10 par value common stock was $14 per share at that time. g. Cash dividends of $15,000 were paid to shareholders. h. On November 12, 500 shares of common stock were repurchased as treasury stock at a cost of $6,000. - Apply: Homework [due day 7] i Saved DUX COMPANY W Statement of Cash Flows For the year ended December 31, 2021 ($ in thousands) Cash flows from operating activities: Cash inflows: Book Cash outflows: Print erences Net cash flows from operating activities S 0 Cash flows from investing activities:Saved DUX COMPANY Comparative Balance Sheets December 31, 2021 and 2020 ($ in thousands) Assets 2021 2020 Cash 65 $ Accounts receivable 22 33 52 Less: Allowance for uncollectible accounts (4) (3) Dividends receivable 5 4 Inventory 45 40 Long-term investment 18 14 Land 65 50 Buildings and equipment 259 270 Less: Accumulated depreciation (54) (70 ) $ 432 $ 379 ices Liabilities Accounts payable 21 23 Salaries payable 2 5 Interest payable 7 4 Income tax payable 6 7 Notes payable 15 0 Bonds payable 105 80 Less: Discount on bonds (2 ) (3) Shareholders' Equity Common stock 210 200 Paid-in capital-excess of par 24 20 Retained earnings 50 43 Less: Treasury stock (6) $ 432 $ 379Net cash flows from investing activities 0 Cash flows from financing activities: Net cash flows from financing activities Net increase (decrease) in cash Cash balance, January 1 Cash balance, December 31 0 Noncash investing and financing activities