Problem $21-16($Algo$)$ Statement of cash flows; indirect method $[$LO$21-4,21-8]$

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.

$\backslash$begin$\{$tabular$\}\{|$c$|$c$|$c$|\}$

$\backslash$hline $\backslash$multirow$[$t$]\{2\}\{*\}\{\backslash$begin$\{$tabular$\}\{$l$\}$

DUX COMPANY $\backslash \backslash$

Comparative Balance Sheets December $31,2024$ and $2023(\backslash$$ in thousands$)$

$\backslash$end$\{$tabular$\}\}$ & & $\backslash \backslash$

$\backslash$hline & $2024$ & $2023\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{3\}\{|$l$|\}\{$Assets$\}\backslash \backslash$

$\backslash$hline Cash & $\backslash$$ $141\mathrm{.}0$ & $\backslash$$ $38\mathrm{.}0\backslash \backslash$

$\backslash$hline Accounts receivable & $66\mathrm{.}0$ & $68\mathrm{.}8\backslash \backslash$

$\backslash$hline Less: Allowance for uncollectible accounts & $(3\mathrm{.}0)$ & $(2\mathrm{.}0)\backslash \backslash$

$\backslash$hline Dividends receivable & $21\mathrm{.}0$ & $20\mathrm{.}0\backslash \backslash$

$\backslash$hline Inventory & $73\mathrm{.}0$ & $68\mathrm{.}0\backslash \backslash$

$\backslash$hline Long$-$term investment & $33\mathrm{.}0$ & $28\mathrm{.}0\backslash \backslash$

$\backslash$hline Land & $88\mathrm{.}0$ & $40\mathrm{.}8\backslash \backslash$

$\backslash$hline Buildings and equipment & $153\mathrm{.}0$ & $268\mathrm{.}0\backslash \backslash$

$\backslash$hline Less: Accumulated depreciation & $(5\mathrm{.}0)$ & $(140\mathrm{.}0)\backslash \backslash$

$\backslash$hline & $\backslash$$ $567\mathrm{.}0$ & $\backslash$$ $388\mathrm{.}0\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{3\}\{|$l$|\}\{$Liabilities$\}\backslash \backslash$

$\backslash$hline Accounts payable & $\backslash$$ $31\mathrm{.}0$ & $\backslash$$ $38\mathrm{.}0\backslash \backslash$

$\backslash$hline Salaries payable & $20\mathrm{.}0$ & $23\mathrm{.}0\backslash \backslash$

$\backslash$hline Interest payable & $22\mathrm{.}0$ & $20\mathrm{.}8\backslash \backslash$

$\backslash$hline Income tax payable & $25\mathrm{.}0$ & $26\mathrm{.}0\backslash \backslash$

$\backslash$hline Notes payable & $48\mathrm{.}0$ & $0\backslash \backslash$

$\backslash$hline Bonds payable & $89\mathrm{.}0$ & $46\mathrm{.}0\backslash \backslash$

$\backslash$hline Less: Discount on bonds & $(2\mathrm{.}0)$ & $(3\mathrm{.}0)\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{3\}\{|$l$|\}\{$Shareholders$\text{'}$ Equity$\}\backslash \backslash$

$\backslash$hline Common stock & $210\mathrm{.}0$ & $200\mathrm{.}0\backslash \backslash$

$\backslash$hline Paid$-$in capital$-$excess of par & $24\mathrm{.}0$ & $20\mathrm{.}0\backslash \backslash$

$\backslash$hline Retained earnings & $108\mathrm{.}0$ & $18\mathrm{.}8\backslash \backslash$

$\backslash$hline Less: Treasury stock & $(8\mathrm{.}0)$ & $0\backslash \backslash$

$\backslash$hline & $\backslash$$ $567\mathrm{.}0$ & $\backslash$$ $388\mathrm{.}0\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$

$\backslash$begin$\{$tabular$\}\{|$c$|$c$|$c$|\}$

$\backslash$hline $\backslash$multicolumn$\{3\}\{|$l$|\}\{```$

DUX COMPANY

Income Statement

For the Year Ended December $31,2024$

$($$ in thousands$)$

$```\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{3\}\{|$l$|\}\{$Revenues$\}\backslash \backslash$

$\backslash$hline Sales revenue & $\backslash$$ $470\mathrm{.}0$ & $\backslash \backslash$

$\backslash$hline Dividend revenue & $21\mathrm{.}0$ & $\backslash$$ $491\mathrm{.}0\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{3\}\{|$l$|\}\{$Expenses$\}\backslash \backslash$

$\backslash$hline cost of goods sold & $156\mathrm{.}0$ & $\backslash \backslash$

$\backslash$hline Salaries expense & $61\mathrm{.}0$ & $\backslash \backslash$

$\backslash$hline Depreciation expense & $3\mathrm{.}0$ & $\backslash \backslash$

$\backslash$hline Bad debt expense & $1\mathrm{.}0$ & $\backslash \backslash$

$\backslash$hline Interest expense & $44\mathrm{.}0$ & $\backslash \backslash$

$\backslash$hline Loss on sale of building & $39\mathrm{.}0$ & $\backslash \backslash$

$\backslash$hline Income tax expense & $52\mathrm{.}0$ & $356\mathrm{.}0\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$

Addit$/$onal Information from the accounting records:

a$.$ A bulding that originally cost $\backslash (\backslash$$ $184,000\backslash ),$ and which was three$-$fourths depreclated, was sold for $\backslash (\backslash$$ $7,000\backslash ).$

b$.$ The common stock of Byrd Corporation was purchased for $\backslash (\backslash$$ $5,000\backslash )$ as a long$-$term Investment.

c$.$ Property was acquired by Issuling a $\backslash (13\backslash \%\backslash ),$ seven$-$year, $\backslash (\backslash$$ $48,000\backslash )$ note payable to the seller.

d$.$ New equipment was purchased for $\backslash (\backslash$$ $69,000\backslash )$ cash.

e$.$ On January $1,2024,$ bonds were sold at their $\backslash (\backslash$$ $43,000\backslash )$ face value.

f$.$ On January $19,$ Dux issued a $\backslash (5\backslash \%\backslash )$ stock dividend $(1,000$ shares$).$ The market price of the $\backslash (\backslash$$ $10\backslash )$ par value common stock was $\backslash (\backslash$$ $14\backslash )$ per share at that time.

g$.$ Cash dividends of $\backslash (\backslash$$ $31,000\backslash )$ were pald to shareholders.

h$.$ On November $12,12,500$ shares of common stock were repurchased as treasury stock at a cost of $\backslash (\backslash$$ $8,000\backslash ).$

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 $($l$.$e$.,10,000$ should be entered as $10).$