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100 Boardwalk, Inc., reported the following in its financial statements for the year ended May 31, 20X6 (in thousands): E: (Click the icon to view
100 Boardwalk, Inc., reported the following in its financial statements for the year ended May 31, 20X6 (in thousands): E: (Click the icon to view the financial statements.) - Data table 20X6 20X5 Requirement 1. Determine the following cash receipts and payments for 100 Boardwalk, Inc., during 20X6: (Enter all amounts in thousands.) a. Collections from customers b. Payments for inventory Payments for other operating expenses d. Payment of income tax Proceeds from issuance of shares f. Payment of cash dividends Income Statement C. $ 21,674 24,691$ Net sales e. 18,129 15.423 Cost of sales Depreciation Other operating expenses 266 229 3,884 4,206 a. Collections from customers are 532 483 Income tax expense $ 1,880$ 1,333 b. Payments for inventory are $ Net income c. Payments for other operating expenses are $ Balance Sheet Cash and equivalents Accounts receivable $ 19 $ 18 d. Payment of income tax is $ 602 615 e. Proceeds from issuance of shares is $ 3,090 2,821 4,342 3,430 f. Payment of cash dividends is $ 1,544 1,363 936 628 Inventory Property and equipment, net Accounts payable Accrued liabilities Income tax payable Long-term liabilities Share capital Retained earnings 200 190 480 466 518 442 4,375 3,795 Print Done 1
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