Problem 21-4 (Algo) Statement of cash flows; direct method [LO21-3, 21-8] 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 December 31, 2021 and 2020 (s in thousands) 2021 2e2e 5 114 45 (5) Assets Cash Accounts receivable Less: Allowance for uncollectible accounts Dividends receivable Inventory Long-term investment Land Buildings and equipment Less: Accumulated depreciation 80 48 75 188 (66) $ 482 $ 46 67 (4) 2 75 42 65 200 (100) 5393 Liabilities Accounts payable Salaries payable $ 10 1 $ 24 5 Prov 1 of 2 Next > arch O $ 482 $ 393 $ Liabilities Accounts payable 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 $ 10 1 8 8 10 60 (1) 0000 24 5 2 9 0 50 210 24 155 (3) $ 482 200 20 85 @ $ 393 DUX COMPANY Income Statement For the Year Ended December 31, 2021 ($ in thousands) Revenues Sales revenue $160 Dividend revenue 3 $363 Expenses cost of goods sold Salaries expense Be DUX COMPANY Income Statement For the Year Ended December 31, 2021 ($ in thousands) Revenues Sales revenue $ 360 Dividend revenue 3 $ 363 Expenses Cost of goods sold 200 Salaries expense 30 Depreciation expense 5 Bad debt expense 1 Interest expense 8 Loss on sale of building 2 Income tax expense 27 273 Net income $ 90 4 Additional information from the accounting records la. A building that originally cost $52.000, and which was three-fourths depreciated. was b. The common stock of Byrd Corporation was purchased for $6.000 as a long-term inv c. Property was acquired by issuing a 14%, seven-year $10.000 note payable to the selle d New equipment was purchased for $40.000 cash e On January 1, 2012, bonds were sold at their $10.000 faqe value. 1 On January 19, Dux issued a 5% stock dividend (1.000 shares). The market price of the Help Net income Additional information from the accounting records a. A building that originally cost $52,000, and which was three-fourths depreciated, was sold for $11,000 b. The common stock of Byrd Corporation was purchased for $6,000 as a long-term investment. c. Property was acquired by issuing a 14%, seven-year. $10,000 note payable to the seller. d New equipment was purchased for $40,000 cash. e On January 1, 2021, bonds were sold at their $10.000 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 $6,000 were paid to shareholders. h. On November 12, 1.000 shares of common stock were repurchased as treasury stock at a cost of $3,000 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. (Do not round your intermediate calculations. Enter your answers in thousands (ie: 10,000 should be entered as 10). Amounts to be deducted should be indicated with a minus sign.) DUX COMPANY Statement of Cash Flows For the vear ended December 31,2021 Next > DLA COMPANY Statement of Cash Flows For the year ended December 31, 2021 (5 in thousands) Cash flows from operating activities: Cash inflows: Cash outflows: Net cash flows from operating activities Cash flows from Investing activities 1 of searen 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 (decrease) in cash Cash balance, January 1 Cash balance December 31 Noncash investing and financing activities 1 of 2 ad to search