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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 $ 72 $ 26
Accounts receivable 27 50
Less: Allowance for uncollectible accounts (3 ) (2 )
Dividends receivable 4 3
Inventory 35 30
Long-term investment 17 12
Land 55 45
Buildings and equipment 252 260
Less: Accumulated depreciation (46 ) (60 )
$ 413 $ 364
Liabilities
Accounts payable $ 14 $ 18
Salaries payable 1 4
Interest payable 5 3
Income tax payable 5 6
Notes payable 10 0
Bonds payable 100 75
Less: Discount on bonds (1 ) (2 )
Shareholders' Equity
Common stock 210 200
Paid-in capitalexcess of par 24 20
Retained earnings 50 40
Less: Treasury stock (5 ) 0
$ 413 $ 364

DUX COMPANY Income Statement For the Year Ended December 31, 2021 ($ in thousands)
Revenues
Sales revenue $ 210
Dividend revenue 4 $ 214
Expenses
Cost of goods sold 125
Salaries expense 27
Depreciation expense 4
Bad debt expense 1
Interest expense 6
Loss on sale of building 1
Income tax expense 12 176
Net income $ 38

Additional information from the accounting records:

  1. A building that originally cost $24,000, and which was three-fourths depreciated, was sold for $5,000.
  2. The common stock of Byrd Corporation was purchased for $5,000 as a long-term investment.
  3. Property was acquired by issuing a 10%, seven-year, $10,000 note payable to the seller.
  4. New equipment was purchased for $16,000 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 $14,000 were paid to shareholders.
  8. On November 12, 500 shares of common stock were repurchased as treasury stock at a cost of $5,000.

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.)

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