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The comparative balance sheets for 2024 and 2023 and the statement of income for 2024 are given below for Dux Company. Additional information from Dux's
The comparative balance sheets for 2024 and 2023 and the statement of income for 2024 are given below for Dux Company. Additional information from Dux's accounting records is provided also. Additional information from the accounting records: a. A building that originally cost $168,000, 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, $46,000 note payable to the seller. d. New equipment was purchased for $63,000 cash. e. On January 1, 2024, bonds were sold at their $41,000 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 $29,000 were paid to shareholders. h. On November 12, 12,500 shares of common stock were repurchased as treasury stock at a cost of $8,000. Required: Prepare the statement of cash flows for Dux Company using the indirect method. Note: Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands (i.e., 10,000 should be entered as 10). \begin{tabular}{|l|l|l|} \hline \multicolumn{1}{|c|}{ DUX COMPANY } \\ \hline \multicolumn{1}{|c|}{ Statement of Cash Flows } \\ \hline Cash flows from operating activities: & & \\ \hline Net income & & \\ \hline Adjustments for noncash effects: & & \\ \hline Depreciation expense & & \\ \hline Loss on sale of building & & \\ \hline & & \\ \hline Changes in operating assets and liabilities: & & \\ \hline Decrease in accounts receivable & & \\ \hline Increase in dividends receivable & & \\ \hline Increase in inventory & & \\ \hline Decrease in accounts payable & & \\ \hline Decrease in salaries payable & & \\ \hline Increase in interest payable & & \\ \hline Decrease in income tax payable & & \\ \hline Pash flows from investing activities: & & \\ \hline Sale of building & & \\ \hline Purchase of equipment long-term investment & & \\ \hline \end{tabular}
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