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The following information is from Best Ltd's Statement of Financial Position as at 30 June 2020: 2019 2020 Current assets Cash $8,000 $29,000 Accounts receivable

The following information is from Best Ltd's Statement of Financial Position as at 30 June 2020:

2019 2020
Current assets
Cash $8,000 $29,000
Accounts receivable 42,000 38,000
Allowance for doubtful debts (2,400) (4,000)
Inventory 34,000 40,000
Prepaid insurance 12,000 4,000
Non-current assets
Land 72,000 84,000
Buildings 102,000 108,000
Accumulated depreciation-building (42,000) (46,000)
Equipment 56,000 50,000
Accumulated depreciation- equipment (18,000) (22,000)
Current liabilities
Accounts payable 38,000 34,000
Accrued expense payable 15,000 16,000
Income tax payable 9,000 18,400
Final dividend payable 8,000 10,000
Non-current liabilities
Notes payable 82,000 62,000
Equity
Share capital 70,000 80,000
General reserve 16,600 30,600
Retained earnings 25,000 30,000

The following information is from Best Ltd's Statement of Profit or Loss for the financial year ended 30 June 2020:

Sales revenue $124,000
Gain on sale of land 4,000
Gain on sale of equipment 4,000
132,000
Less
Cost of sales 48,000
Insurance expense 8,000
Bad debts expense 2,400
Depreciation expense 18,000
Other expense 5,600
82,000
Profit before income tax expense 50,000
Less
Income tax expense 22,000
Profit for the period 28,000

Additional information:

  1. No building was disposed off during the current financial year.
  2. A block of land with a cost of $16,000 was sold for $20,000.
  3. Equipment to the value of $4000 and buildings to the value of $6000 were acquired with the issue of a long-term note. The amount payable has been included in notes payable on the statement of financial position.
  4. A transfer was made from retained earnings to general reserve.

Required:

1.What is the amount of cash receipts from customers during the 2020 financial year? (Input a positive number only, no dollar sign)

2. What is the amount of cash payment to suppliers during the 2020 financial year?

3. What is the amount of cash payment for other operating expenses during the 2020 financial year?

4. What is the amount of income tax paid during the 2020 financial year?

5. What is the amount of cash purchase of a block of land during the 2020 financial year?

6. What is the amount of cash proceeds from sale of a block of land during the 2020 financial year?

7. What is the amount of cash proceeds from sale of equipment during the 2020 financial year?

8. What is the amount of cash proceeds from issuing shares during the 2020 financial year?

9. What is the amount of cash outflow to repay note payable during the 2020 financial year?

10. What is the amount of dividend paid during the 2020 financial year?

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