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$60 $28 Accounts receivable 47 58 Less: Allowance for uncollectible accounts (4) (3) Dividends receivable 7 6 Inventory 40 35 Long-term investment 28 26 Land 105 80 Buildings and equipment 201 230 Less: Accumulated depreciation (35) (70) $449 $390 Liabilities Accounts payable$26 $39 Salaries payable 2 4 Interest payable 5 2 Income tax payable 6 8 Notes payable 25 0 Bonds payable 85 60 Less: Discount on bonds (3) (4) Shareholders' Equity Common stock 210 200 Paid-in capitalexcess of par 24 20 Retained earnings 81 61 Less: Treasury stock (12) 0 $449 $390

DUX COMPANY Income Statement For the Year Ended December 31, 2021 ($ in thousands)
Revenues
Sales revenue	$	280
Dividend revenue		7		$	287
Expenses
Cost of goods sold		160
Salaries expense		41
Depreciation expense		4
Bad debt expense		1
Interest expense		8
Loss on sale of building		7
Income tax expense		20			241
Net income				$	46

Additional information from the accounting records:

1. A building that originally cost $52,000, and which was three-fourths depreciated, was sold for $6,000.
2. The common stock of Byrd Corporation was purchased for $2,000 as a long-term investment.
3. Property was acquired by issuing a 11%, seven-year, $25,000 note payable to the seller.
4. New equipment was purchased for $23,000 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 $12,000 were paid to shareholders.
8. On November 12, 1,000 shares of common stock were repurchased as treasury stock at a cost of $12,000.

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 (i.e., 10,000 should be entered as 10). Amounts to be deducted should be indicated with a minus sign.)

DUX COMPANY Statement of Cash Flows For the year ended December 31, 2021 ($ in thousands) Cash flows from operating activities: Cash inflows: From customers From dividends received Cash outflows: To suppliers of goods To employees For interest For income taxes $ 0 Net cash flows from operating activities Cash flows from investing activities: Purchase of long-term investment Sale of building Purchase of equipment 0 Net cash flows from investing activities Cash flows from financing activities: Sale of bonds payable Purchase of treasury stock Payment of dividends 0 Net cash flows from financing activities Net increase (decrease) in cash Cash balance, January 1 Cash balance, December 31 Noncash investing and financing activities: EA 0