The comparative balance sheets for 2024 and 2023 and the statement of income for 2024 are...

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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 accounting records is provided also. DUX COMPANY Comparative Balance Sheets December 31, 2024 and 2023 ($ in thousands) 2024 2023 Assets Cash Accounts receivable $ 33 $ 20 48 50 Less: Allowance for uncollectible (4) (3) accounts Dividends receivable 3 2 Inventory 55 50 Long-term investment 15 10 Land 70 40 Buildings and equipment 225 250 Less: Accumulated depreciation (25) (50) $ 420 $ 369 Liabilities Accounts payable $ 13 $ 20 Salaries payable 2 5 Interest payable 4 2 Income tax payable 7 8 Notes payable 30 0 Bonds payable 95 70 Less: Discount on bonds (2) (3) Shareholders' Equity Common stock 210 200 Paid-in capital-excess of par 24 20 Retained earnings 45 47 Less: Treasury stock (8) 0 $ 420 $ 369 DUX COMPANY Income Statement For the Year Ended December 31, 2024 Revenues ($ in thousands) Sales revenue Dividend revenue Expenses $ 200 3 $ 203 Cost of goods sold Salaries expense Depreciation expense Bad debt expense 120 25 5 1 Interest expense 8 Loss on sale of 3 building Income tax expense 16 178 Net income $ 25 Additional information from the accounting records: 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, $30,000 note payable to the seller. d. New equipment was purchased for $15,000 cash. e. On January 1, 2024, bonds were sold at their $25,000 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 $13,000 were paid to shareholders. h. On November 12, 500 shares of common stock were repurchased as treasury stock at a cost of $8,000. Required: Prepare the statement of cash flows for Dux Company using the indirect method. Note: Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands (i.e., 10,000 should be entered as 10). DUX COMPANY Statement of Cash Flows For year ended December 31, 2024 ($ in 000s) Cash flows from operating activities: Net income Adjustments for noncash effects: Changes in operating assets and liabilities: Net cash flows from operating activities Cash flows from investing activities: Net cash flows from investing activities Cash flows from financing activities: Net cash flows from financing activities Net increase in cash 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, $30,000 note payable to the seller. d. New equipment was purchased for $15,000 cash. e. On January 1, 2024, bonds were sold at their $25,000 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 $13,000 were paid to shareholders. h. On November 12, 500 shares of common stock were repurchased as treasury stock at a cost of $8,000. Required: Prepare the statement of cash flows for Dux Company using the indirect method. Note: Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands (i.e., 10,000 should be entered as 10). DUX COMPANY Statement of Cash Flows For year ended December 31, 2024 ($ in 000s) Cash flows from operating activities: Net income Adjustments for noncash effects: Changes in operating assets and liabilities: Net cash flows from operating activities Cash flows from investing activities: Net cash flows from investing activities Cash flows from financing activities: Net cash flows from financing activities Net increase in cash Cash balance, January 1 Cash balance, December 31 Noncash investing and financing activities: 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 $ 33 $ 20 48 50 Less: Allowance for uncollectible (4) (3) accounts Dividends receivable 3 2 Inventory 55 50 Long-term investment 15 10 Land 70 40 Buildings and equipment 225 250 Less: Accumulated depreciation (25) (50) $ 420 $ 369 Liabilities Accounts payable $ 13 $ 20 Salaries payable 2 5 Interest payable 4 2 Income tax payable 7 8 Notes payable 30 0 Bonds payable 95 70 Less: Discount on bonds (2) (3) Shareholders' Equity Common stock 210 200 Paid-in capital-excess of par 24 20 Retained earnings 45 47 Less: Treasury stock (8) 0 $ 420 $ 369 DUX COMPANY Income Statement For the Year Ended December 31, 2024 Revenues ($ in thousands) Sales revenue Dividend revenue Expenses $ 200 3 $ 203 Cost of goods sold Salaries expense Depreciation expense Bad debt expense 120 25 5 1 Interest expense 8 Loss on sale of 3 building Income tax expense 16 178 Net income $ 25 Additional information from the accounting records: 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, $30,000 note payable to the seller. d. New equipment was purchased for $15,000 cash. e. On January 1, 2024, bonds were sold at their $25,000 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 $13,000 were paid to shareholders. h. On November 12, 500 shares of common stock were repurchased as treasury stock at a cost of $8,000. Required: Prepare the statement of cash flows for Dux Company using the indirect method. Note: Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands (i.e., 10,000 should be entered as 10). DUX COMPANY Statement of Cash Flows For year ended December 31, 2024 ($ in 000s) Cash flows from operating activities: Net income Adjustments for noncash effects: Changes in operating assets and liabilities: Net cash flows from operating activities Cash flows from investing activities: Net cash flows from investing activities Cash flows from financing activities: Net cash flows from financing activities Net increase in cash 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, $30,000 note payable to the seller. d. New equipment was purchased for $15,000 cash. e. On January 1, 2024, bonds were sold at their $25,000 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 $13,000 were paid to shareholders. h. On November 12, 500 shares of common stock were repurchased as treasury stock at a cost of $8,000. Required: Prepare the statement of cash flows for Dux Company using the indirect method. Note: Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands (i.e., 10,000 should be entered as 10). DUX COMPANY Statement of Cash Flows For year ended December 31, 2024 ($ in 000s) Cash flows from operating activities: Net income Adjustments for noncash effects: Changes in operating assets and liabilities: Net cash flows from operating activities Cash flows from investing activities: Net cash flows from investing activities Cash flows from financing activities: Net cash flows from financing activities Net increase in cash Cash balance, January 1 Cash balance, December 31 Noncash investing and financing activities: