Question: The comparative balance sheets for 2 0 2 4 and 2 0 2 3 and the statement of income for 2 0 2 4 are

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 COMPANYComparative Balance SheetsDecember 31,2024 and 2023($ in thousands)20242023Assets Cash$ 33$ 20Accounts receivable4850Less: Allowance for uncollectible accounts(4)(3)Dividends receivable32Inventory5550Long-term investment1510Land7040Buildings and equipment225250Less: Accumulated depreciation(25)(50) $ 420$ 369Liabilities Accounts payable$ 13$ 20Salaries payable25Interest payable42Income tax payable78Notes payable300Bonds payable9570Less: Discount on bonds(2)(3)Shareholders' Equity Common stock210200Paid-in capitalexcess of par2420Retained earnings4547Less: Treasury stock(8)0 $ 420$ 369DUX COMPANYIncome StatementFor the Year Ended December 31,2024($ in thousands)Revenues Sales revenue$ 200 Dividend revenue3$ 203Expenses Cost of goods sold120 Salaries expense25 Depreciation expense5 Bad debt expense1 Interest expense8 Loss on sale of building3 Income tax expense16178Net income $ 25Additional information from the accounting records:A building that originally cost $40,000, and which was three-fourths depreciated, was sold for $7,000.The common stock of Byrd Corporation was purchased for $5,000 as a long-term investment.Property was acquired by issuing a 13%, seven-year, $30,000 note payable to the seller.New equipment was purchased for $15,000 cash.On January 1,2024, bonds were sold at their $25,000 face value.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.Cash dividends of $13,000 were paid to shareholders.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).

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