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.

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, 2021, 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 of Dux Company for the year ended December 31, 2021. Present cash flows from operating activities by the direct method. (You may omit the schedule to reconcile net income to cash flows from operating activities.)

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DUX COMPANY Comparative Balance Sheets December 31, 2021 and 2020 (S in thousands) 2021 2020 Assets $ 20 $ 33 Cash Accounts receivable 48 50 Less: Allowance for uncollectible accounts (4) (3) Dividends receivable Inventory Long-term investment 55 50 10 15 Land 70 40 Buildings and equipment Less: Accumulated depreciation 225 250 (25) (50) $420 $369 Liabilities $ 20 $ 13 Accounts payable Salaries payable Interest payable Income tax payable Notes payable Bonds payable 30 95 70 Less: Discount on bonds (2) (3) Shareholders' Equity 210 Common stock 200 Paid-in capital-excess of par Retained earnings 24 20 45 47 Less: Treasury stock (8) $420 $369 DUX COMPANY Income Statement For the Year Ended December 31, 2021 (S in thousands) Revenues Sales revenue $200 Dividend revenue 3 $203 Expenses Cost of goods sold Salaries expense 120 25 Depreciation expense Bad debt expense Interest expense 8. Loss on sale of building 3 178 Income tax expense 16 $ 25 Net income