Rite Aid Corporation operates retail drugstores in the United States. It is one of the country's largest retail drugstore chains with 3,333 stores in operation as of March 3, Year 3. The company's drugstores' primary business is pharmacy services. The company also sells a full selection of health and beauty aids and personal care products, seasonal merchandise, and a large private brand product line.
The following condensed information was extracted from Rite Aid's Form 10-K for the fiscal year that ended March 3, Year 3 (all dollars in thousands).

Required:
1. Calculate cash collected from customers during fiscal Year 3.
2. Had Rite Aid not securitized receivables during Year 3, Year 2, and Year 1, what would its operating cash flows have been in each of these years? Do you believe that Rite Aid€™s operating cash flows were materially affected by its receivables securitization practices?
3. Calculate pre-tax operating income for Year 3, Year 2, and Year 1, and compare it to operating cash flows as originally reported and to operating cash flows assuming that Rite Aid did not securitize receivables. Compare both results and comment on the impact of Rite Aid€™s practice of securitizingreceivables

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Consolidated Statements of Operations Year Ended 3/3/Year 3 314/Year 22/26/Year S17,507,719 $17,20,968 S16,816,439 12,791,597 2,57,860 12,202,894 Revenues Costs and expenses Cost of goods sold Selling, general, and administrative expenses Store closing and impairment charges Interest expense Loss on debt modifications and retirements, net 481 4,307,42 4,127,536 49,317 4,370, 68,692 277,017 9,186 (6,462) 35,655 294,871 19,229 275,219 18,662 11,139) -- (Gain) loss on sale of assets, net 17,494,137 7,227,714 6,682,432 Income before income taxes Income tax benefft 134,007 --(168,471) 13,582 43,254 一(1,229,752) S 26,826 1,273,006 S 302,478 (13,244) Net income Selected Data Pertaining to Accounts Receivable Year Ended 3/3/Year 3 3/4/Year 2 2/26/Year Year-end Accounts receivable, net Allowance for uncollectible accounts at year-end Additions to uncollectible accounts charged to $374,493 354,949 $483,455 31,216 30,246 32,336 costs and expenses 26,603 34,702 47,291