Luxury, Inc., reported the following in its financial statements for the year ended May 31, 2020 (in thousands) (Click the icon to view the financial statements.) Requirements Financial statements a. Collections from customers are thousand. 2020 2019 Income Statement Net sales $ 24,691 $ 21,893 Cost of sales 18,074 15,524 268 227 Depreciation Other operating expenses 4,277 3,884 540 Requirements Income tax expense 488 $ 1,925 S 1,377 Net income Balance Sheet $ 20 $ 18 605 615 Determine the following cash receipts and payments for Luxury, Inc., during 2020 (enter all amounts in thousands): a. Collections from customers b. Payments for inventory c. Payments for other operating expenses d. Payment of income tax e. Proceeds from issuance of common shares f. Payment of cash dividends 3,100 2,825 4,348 3,433 1,552 1,37 Cash and cash equivalents Accounts receivable Inventory Property and equipment, net Accounts payable Accrued liabilities Income tax payable Long-term liabilities Common shares Retained earnings 944 643 205 192 474 460 Print Done 518 442 4,380 3,783 Print Done