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Motorvehicles of Philadelphia, Inc., reported the following financial statements for 2018: (Click the icon to view the income statement.) (Click the icon to view the
Motorvehicles of Philadelphia, Inc., reported the following financial statements for 2018: (Click the icon to view the income statement.) (Click the icon to view the comparative balance sheets.) Calculate the following, enter all amounts in thousands a. Collections from customers b. Payments for inventory a. Calculate the collections from customers i Reference - X The collections from customers are $ thousand. Motorvehicles of Philadelphia, Inc. Income Statement Year Ended December 31, 2018 i Reference (In thousands) Service revenue Cost of goods sold Salary expense Depreciation expense Motorvehicles of Philadelphia, Inc. Comparative Balance Sheets December 31, 2018 and 2017 Other expenses (In thousands) Total expenses 2018 2017 Net income Assets Current Cash Accounts receivable $ 47 $ 3228 Print Done Inventory Prepaid expenses Plant assets, net Long-term investments 2018 2017 Liabilities Current 19 $ 14 Accounts payable 52 4 0 Salary payable 87 Accrued liabilities 7 Long-term note payable 222 183 72 Stockholders' Equity Common stock Retained earnings 429 $ 403 Total 4330 225 429 $ 403 225_230 $ Total
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