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 2029 ($ in thousands) 2021 2920 Assets Cash Accounts receivable Less: Allowance for uncollectible accounts Dividends receivable Inventory Long-term investment Land Buildings and equipment Less: Accumulated depreciation $ 357 72 (4) 27 91 75 154 477 (85) $ 1,164 $ 248 74 (3) 14 74 79 102 502 (98) $ 981 $ $ Liabilities Accounts payable Salaries payable Interest payable Income tax payable Notes payable Bonds payable Less: Discount on bonds Shareholders' Equity Common stock Paid-in capital-excess of par Retained earnings Less: Treasury stock 37 14 16 19 54 431 (14) 44 17 14 29 310 (15) 330 96 189 (8) $ 1,164 328 89 191 $ 981 DUX COMPANY Income Statement For the Year Ended December 31, 2021 ($ in thousands) Revenues Sales revenue $ 440 Dividend revenue 27 $ 467 Expenses Cost of goods sold $ 264 Salaries expense 37 Depreciation expense 17 Bad debt expense 1 Interest expense 32 Loss on sale of building 3 Income tax expense $ 40 394 Net income $ 73 Additional information from the accounting records: a. A building that originally cost $40.000, 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. $54,000 note payable to the seller. d. New equipment was purchased for $15.000 cash. e. On January 1, 2021, bonds were sold at their $121,000 face value. f. On January 19. Dux issued a stock dividend (1.000 shares). The market price of the $10 par value common stock was $26 per share at that time. g. Cash dividends of $49.000 were paid to shareholders. h. On November 12. 1.700 shares of common stock were repurchased as treasury stock at a cost of $8.000. Required: Prepare the T-account for Dux Company. (Enter your answers in thousands. (I.e., 10,000 should be entered as 10).) Answer is not complete. Cash Beg. Bal Operating Activities: From customers From dividends received Investing Activities: Financing Activities: End. Bal. Accounts Receivable Inventory Beg. Bal. Beg. Bal End. Bal. End. Bal Dividends Receivable Long-term Investments Beg. Bal. Beg Bal End. Bal. End. Bal. Land Buildings and Equipment Beg. Bal Beg Bal End. Bal. End. Bal. Accumulated Depreciation Accounts Payable Beg. Bal. Beg Bal End. Bal End. Bal Salaries Payable Interest Payable Beg. Bal. Beg. Bal. End. Bal End. Bal. Income Tax Payable Notes Payable Beg. Bal. Beg Bal. End. Bal. End. Bal. Bonds Payable Discount on Bonds Beg. Bal. Beg. Bal. End. Bal. End. Bal. Common Stock Paid-in Capital-Excess of Par Beg Bal. Beg. Bal. End. Bal. End. Bal. Retained Earnings Treasury Stock Beg Bal Beg. Bal. End. Bal. End. Bal. Sales Dividend Revenue Beg Bal. Beg. Bal. End. Bal. End. Bal Cost of Goods Sold Salaries Expense Beg Bal Beg Bal End. Bal. End. Bal Depreciation Expense Bad Debt Expense Beg Bal Beg Bal End. Bal. End. Bal. Loss on Sale of Building Interest Expense Beg Bal. Beg. Bal. End. Bal. End. Bal. Net Income (Income Summary) Income Tax Expense Beg Bal Beg. Bal. End. Bal. End. Bal. Allowance for Uncollectible accounts Beg Bal End. Bal
