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.

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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 accounting records is provided also. DUX COMPANY Comparative Balance Sheets Decenber 31, 2021 and 2020 (5 in thousands) 2021 2020 Assets Cash Accounts receivable Less: Allowance for uncollectible accounts Dividends receivable Inventory Long-term investment Land Buildings and equipment Less: Accumulated depreciation $ 87.0 $ 29.0 57.0 (5.0) 12.0 64.0 24.0 79.0 189.0 (14.0) 59.0 (4.0) 11.0 59.e 19.0 40.8 259.0 (95.0) $493.0 $377.0 Liabilities Accounts payab le 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 $ 22.0 11.0 13.0 16.0 39.0 98.8 (2.0) $ 29.0 14.0 11.0 17.0 64.0 (3.e) 210.0 24.0 70.0 (8.0) 200.0 20.e 25.0 $493.0 $377.0 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 Decenber 31, 2021 and 2020 (5 in thousands) 2021 2020 Assets Cash Accounts receivable Less: Allowance for uncollectible accounts Dividends receivable Inventory Long-term investment Land Buildings and equipment Less: Accumulated depreciation $ 87.0 $ 29.0 57.0 (5.0) 12.0 64.0 24.0 79.0 189.0 (14.0) 59.0 (4.0) 11.0 59.e 19.0 40.8 259.0 (95.0) $493.0 $377.0 Liabilities Accounts payab le 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 $ 22.0 11.0 13.0 16.0 39.0 98.8 (2.0) $ 29.0 14.0 11.0 17.0 64.0 (3.e) 210.0 24.0 70.0 (8.0) 200.0 20.e 25.0 $493.0 $377.0

Answer rating: 100% (QA)

Preparation of Cash flow Statement Dux Company Cash flow Statement As on December 31 2021 in Thousan... View the full answer