Prepare the statement of cash flows for Dux Company using the indirect method. (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).) **Dux Company Financial Overview**The comparative balance sheets for the years 2021 and 2020, along with the income statement for 2021, provide crucial insights into the financial position and performance of Dux Company. Additional accounting records information is presented as follows:### Comparative Balance Sheets (in thousands)**Assets:**- **2021:** - Cash: $105.0 - Accounts Receivable: $60.0 - Less: Allowance for Uncollectible Accounts: $(5.0) - Dividends Receivable: $15.0 - Inventory: $67.0 - Long-term Investment: $27.0 - Land: $82.0 - Buildings and Equipment: $177.0 - Less: Accumulated Depreciation: $(11.0) - **Total Assets:** $517.0- **2020:** - Cash: $32.0 - Accounts Receivable: $62.0 - Less: Allowance for Uncollectible Accounts: $(4.0) - Dividends Receivable: $14.0 - Inventory: $62.0 - Long-term Investment: $26.0 - Land: $48.0 - Buildings and Equipment: $262.0 - Less: Accumulated Depreciation: $(110.0) - **Total Assets:** $380.0**Liabilities:**- **2021:** - Accounts Payable: $25.0 - Salaries Payable: $14.0 - Interest Payable: $16.0 - Income Tax Payable: $19.0 - Notes Payable: $42.0 - Bonds Payable: $95.0 - Less: Discount on Bonds: $(2.0)- **2020:** - Accounts Payable: $32.0 - Salaries Payable: $17.0 - Interest Payable: $14.0 - Income Tax Payable: $20.0 - Notes Payable: $0.0 - Bonds Payable: $58.0 - Less: Discount on Bonds: $(3.0)**Shareholders' Equity:**- ## Accounting Information for Dux Company**Additional Information from the Accounting Records:**a. A building that originally cost $136,000, 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, $42,000 note payable to the seller.d. New equipment was purchased for $51,000 cash.e. On January 1, 2021, bonds were sold at their $37,000 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 $25,000 were paid to shareholders.h. On November 12, 12,500 shares of common stock were repurchased as treasury stock at a cost of $8,000.**Required:**Prepare the statement of cash flows for Dux Company using the indirect method. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands (i.e., 10,000 should be entered as 10).)---### Dux Company**Statement of Cash Flows***For the year ended December 31, 2021 ($ in 000s)*| Cash flows from operating activities: | | ||---------------------------------------|---------|---------|| Net income | | || **Adjustments for noncash effects:** | | || | | || | | || | | || **Changes in operating assets and liabilities:** | | || | | || | | || | | || **Net cash flows from operating activities** | | || **Cash flows from investing activities:** | | || | | |> *Note: The table for the cash flow statement has blank spaces intended for financial data entries relevant to cash flow adjustments and activities.*

Cash Flow Statement is very important to know how cash was utilized and how the cash was generated…

Prepare the statement of cash flows for Dux Company using the indirect method. (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).)

Prepare the statement of cash flows for Dux Company using the indirect method. (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).)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Provide iand Create nformation needed to create a Statement of Cash Flows using the Indirect Method. You MUST include: Net Income At least 3 items that go under operating activities. At least 2 items that go under investing activities. At least 2 items that go under financing activities. And 1 non-cash transaction.
Mazaya Company has the following information available: Net Income R.O. 37,500; Cash Provided by Operations R.O. 46,500; Cash Sales R.O. 97,500; Capital Expenditures R.O.16,500; Dividends Paid R.O. 4,500. What is Mazaya's free cash flow?
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The accounting records of MVD Sales, Inc. include the following accounts: (Click the icon to view the accounts.) Compute MVD's net cash provided by (used for) operating activities during July 2016. Use the indirect method. (Use parentheses or a minus sign for numbers to be subtracted and to show net cash used for operating activities. If a box is not used in the table leave the box empty; do not select a label or enter a zero.) MVD Sales, Inc. Statement of Cash Flows (Partial) For the Month Ended July 2016 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: Net Cash Provided by (Used for) Operating Activities Account Cash Accounts Receivable Merchandise Inventory Accounts Payable Beginning Balance $ 5,500 19,000 17,000 13,000 Accumulated Depreciation- Equipment 50,000 Jul. 1 3,000 Depr. Exp. 53,000 Jul. 31 Dividends Ending Balance $ 3,500 15,500 21,000 17,500 Retained Earnings 20,000 65,000 Jul. 1…