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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 Dux's

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 $ 92 $ 49
Accounts receivable 62 69
Less: Allowance for uncollectible accounts (4 ) (3 )
Dividends receivable 3 2
Inventory 95 90
Long-term investment 53 48
Land 105 80
Buildings and equipment 209 230
Less: Accumulated depreciation (60 ) (100 )
$ 555 $ 465
Liabilities
Accounts payable $ 38 $ 66
Salaries payable 4 8
Interest payable 6 5
Income tax payable 11 12
Notes payable 25 0
Bonds payable 90 65
Less: Discount on bonds (4 ) (5 )
Shareholders' Equity
Common stock 210 200
Paid-in capitalexcess of par 24 20
Retained earnings 160 94
Less: Treasury stock (9 ) 0
$ 555 $ 465

DUX COMPANY Income Statement For the Year Ended December 31, 2021 ($ in thousands)
Revenues
Sales revenue $ 390
Dividend revenue 3 $ 393
Expenses
Cost of goods sold 215
Salaries expense 36
Depreciation expense 8
Bad debt expense 1
Interest expense 9
Loss on sale of building 2
Income tax expense 31 302
Net income $ 91

Additional information from the accounting records:

  1. A building that originally cost $64,000, and which was three-fourths depreciated, was sold for $14,000.
  2. The common stock of Byrd Corporation was purchased for $5,000 as a long-term investment.
  3. Property was acquired by issuing a 14%, seven-year, $25,000 note payable to the seller.
  4. New equipment was purchased for $43,000 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 $11,000 were paid to shareholders.
  8. On November 12, 1,000 shares of common stock were repurchased as treasury stock at a cost of $9,000.

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.) Please use the same chart of accounts. Thanks for your help.

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