QUESTION 3 Mary Kay Cosmetics Selected data and additional information from the company's records are presented below Balance Sheet Data 2014 Cash R235.000 Accounts receivable R120,000 Inventones 56.000 Accounts payable 38.000 Salanes payable 10.000 Equipment 110,000 Accumulated depreciation 28,000 Bonds payable 100,000 Common stock 300,000 Retained earnings 76,000 2013 R246,000 R150,000 50,000 70,000 5,000 70,000 32,000 200.000 200,000 40.000 Income Statement Data Net sales Cost of goods sold Operating expenses (excluding depreciation expense) Net income (Includes depreciation expense and gain) Gain on sale of equipment 2014 R920,000 700,000 160,000 56,000 4,000 Additional Information: 1 2 Equipment with a cost of R30,000 and a book value of R18,000 was sold for R22,000 during 2014 Ordinary shares were issued to retire bonds payable during 2014 The only items affecting retained earnings in 2014 were net income and dividends declared and paid 3 Required: (3) a) What amount of cash was collected from customers during 2014? [TURN OVER] b) What is the amount paid to suppliers for purchases of merchandise during 2014? MDP135W JANUARY FEBRUARY 2019 (3) c) What is the amount paid for operating expenses during 2014? d) What amount was paid to acquire equipment during 2014? (3) e) What amount was recorded as depreciation expense during 2014? f) What amount was declared and paid for dividends during 2014