[The following information applies to the questions displayed below.] 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. DUX COMPANY Comparative Balance Sheets December 31, 2024 and 2023 ($ in thousands) 2024 2023 Assets Cash Accounts receivable Less: Allowance for uncollectible accounts $ 332 70 $ 232 72 (4) (3) Dividends receivable Inventory Long-term investment Land 25 13 88 72 70 65 147 95 Buildings and equipment Less: Accumulated depreciation 457 481 (80) (94) $ 1,105 $ 933 Liabilities Accounts payable Salaries payable $ 35 $ 42 13 16 Interest payable 15 13 Income tax payable 18 19 Notes payable 52 0 Bonds payable 403 290 Less: Discount on bonds (13) (14) Shareholders' Equity Common stock 320 310 Paid-in capital-excess of par 90 75 Retained earnings 180 182 Less: Treasury stock (8) 0 Shareholders' Equity Common stock Paid-in capital-excess of par Retained earnings Less: Treasury stock 320 310 90 75 180 182 (8) $ 1,105 $ 933 Revenues DUX COMPANY Income Statement For the Year Ended December 31, 2024 Sales revenue Dividend revenue Expenses ($ in thousands) $ 420 25 $ 445 Cost of goods sold $ 252 Salaries expense 36 Depreciation expense 16 Bad debt expense 1 Interest expense Loss on sale of building 30 2 Income tax expense $ 38 Net income 375 $ 70 Additional information from the accounting records: a. A building that originally cost $40,000, and which was three-fourths depreciated, was sold for $8,000. 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, $52,000 note payable to the seller. d. New equipment was purchased for $16,000 cash. e. On January 1, 2024, bonds were sold at their $113,000 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 $25 per share at that time. a. Cash dividends of $47.000 were paid to shareholders. c. Property was acquired by issuing a 13%, seven-year, $52,000 note payable to the seller. d. New equipment was purchased for $16,000 cash. e. On January 1, 2024, bonds were sold at their $113,000 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 $25 per share at that time. g. Cash dividends of $47,000 were paid to shareholders. h. On November 12, 1,600 shares of common stock were repurchased as treasury stock at a cost of $8,000. 2. Prepare the statement of cash flows for Dux Company. Use the T-account method to assist in your analysis. Note: Enter your answers in thousands (i.e., 10,000 should be entered as 10). Amounts to be deducted should be indicated with a minus sign. DUX COMPANY Statement of Cash Flows For year ended December 31, 2024 ($ in 000s) Cash flows from operating activities: Cash inflows: From customers From dividends received Cash outflows: To suppliers of goods To employees $ 422 13 (275) (39) 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 Net cash flows from operating activities Cash flows from investing activities: Purchase of equipment Purchase of long-term investment Sale of building Net cash flows from investing activities Cash flows from financing activities: Payment of dividends Sale of bonds payable Not cash flows from financing activitios $ 422 13 (275) (39) (28) (39) 54 0 n Required information Net cash flows from operating activities Cash flows from investing activities: Purchase of equipment Purchase of long-term investment Sale of building Net cash flows from investing activities Cash flows from financing activities: Payment of dividends Sale of bonds payable Net cash flows from financing activities Net increase in cash Cash balance, January 1 Cash balance, December 31 Noncash investing and financing activities: Acquired land by issuing note 54 54 0 0