below The comparative balance sheets for 2016 and 2015 and the statement of inco

Question

below The comparative balance sheets for 2016 and 2015 and the statement of income for 2016 are giver for Dux Company. Additional information from Dux's accounting records is provided also DUX COMPANY Comparative Balance Sheets December 31, 2016 and 2015 (S in 000s) 2016 2015 Assets Cash Accounts receivable Dividends receivable Inventory Long-term investment Land Buildings and equipment $63 35 59 77 85 65 45 25 36 71 210 280 (40) (80) Less: Accumulated depreciation $ 560 S 474 Liabilities Accounts payable Salaries payable Interest payable Income tax payable Notes payable Bonds payable $28 S 50 4 22 65 23 12585 (17) (33) Less: Discount on bonds Shareholders' Equity Common stock Paid-in capital-excess of par Retained earnings 225 215 37 35 92 89 (23)o $560 $474 Less: Treasury stock

Explanation / Answer

STATEMENT OF CASH FLOW Amount in $ Amount in $ Net income $                70.00 Cash flows from operating activities Adjustments for: Depreciation of the year $                35.00 Discount on Bonds $                16.00 Loss on sale of building $                  4.00 $                55.00 Effects/ changes in Assets & Liabilities (Increase) / Decrease in Account receivables $                18.00 Inventory Decrease / (Increase) $              -20.00 Dividend Receivable $                -1.00 Accounts payable Increase / ( Decrese) $              -22.00 Salary Payable $                -5.00 Income tax Payable $                -1.00 Interest Payable $                  1.00 $              -30.00 Net cash from operating activities $                95.00 Cash flows from investing activities Sale of Building $                21.00 Purchase of Equipment $              -30.00 Long Term Investment in Byrd $              -20.00 Net cash used in investing activities $              -29.00 Cash flows from Financing activities Issue of Common Stock Sale of Bond $                40.00 Purchase of treasurry Stock $              -23.00 Dividend Paid $              -55.00 Issue of common sTock Net cash used in financing activities $              -38.00 Net increase in cash and cash equivalents $                28.00 Add :Cash and cash equivalents at beginning of period $                35.00 Cash and cash equivalents at end of period $                63.00 Working Notes: 1) Building Cost = $    1,00,000.00 Less: 3/4 depreciatuin $       75,000.00 Book Value $       25,000.00 Sale $       21,000.00 Loss on sale $          4,000.00

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