TipTop, Inc., reported the following in its financial statements for the year ended May 31, 20x6 (in thousands): (Click the icon to view the financial statements.) Requirement 1. Determine the following cash receipts and payments for Tip Top, Inc., during 20x6: (Enter all amounts in thousands.) Collections from customers b. Payments for inventory Payments for other operating expenses d. Payment of income tax Data table Proceeds from issuance of shares Payment of cash dividends a. C. e. f. 20X6 20X5 a. Collections from customers are s $ 24,7375 21,555 b. Payments for inventory are $ c. Payments for other operating expenses are $ 18,162 264 3,888 535 15,333 229 4.294 485 d. Payment of income tax is $ e. Proceeds from issuance of shares is $ $ 1,888 1,214 f. Payment of cash dividends is $ EA 10 Income Statement Net sales Cost of sales Depreciation Other operating expenses Income tax expense Net income Balance Sheet Cash and equivalents Accounts receivable Inventory Property and equipment, net Accounts payable Accrued liabilities Income tax payable Long-term liabilities Share capital Retained earnings 13 $ 604 618 2,788 3,459 3,060 4,371 1,540 934 1,357 627 193 202 479 465 518 446 4,375 3,787