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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

($ in thousands) 2021 2020 Assets Cash $ 121 $ 40 Accounts receivable 43 71 Less: Allowance for uncollectible accounts (5 ) (4 ) Dividends receivable 4 3 Inventory 100 95 Long-term investment 54 50 Land 95 85 Buildings and equipment 162 200 Less: Accumulated depreciation (38 ) (80 ) $ 536 $ 460 Liabilities Accounts payable $ 46 $ 82 Salaries payable 6 9 Interest payable 7 2 Income tax payable 5 6 Notes payable 10 0 Bonds payable 80 50 Less: Discount on bonds (5 ) (6 ) Shareholders' Equity Common stock 210 200 Paid-in capitalexcess of par 24 20 Retained earnings 163 97 Less: Treasury stock (10 ) 0 $ 536 $ 460

DUX COMPANY

Income Statement

For the Year Ended December 31, 2021

($ in thousands) Revenues Sales revenue $ 400 Dividend revenue 4 $ 404 Expenses Cost of goods sold 220 Salaries expense 38 Depreciation expense 9 Bad debt expense 1 Interest expense 10 Loss on sale of building 2 Income tax expense 31 311 Net income $ 93

Additional information from the accounting records:

1. A building that originally cost $68,000, and which was three-fourths depreciated, was sold for $15,000.
2. The common stock of Byrd Corporation was purchased for $4,000 as a long-term investment.
3. Property was acquired by issuing a 15%, seven-year, $10,000 note payable to the seller.
4. New equipment was purchased for $30,000 cash.
5. On January 1, 2021, bonds were sold at their $30,000 face value.
6. 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.
7. Cash dividends of $13,000 were paid to shareholders.
8. On November 12, 1,000 shares of common stock were repurchased as treasury stock at a cost of $10,000.

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 (i.e., 10,000 should be entered as 10). Amounts to be deducted should be indicated with a minus sign.)

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