Heartstrings, Inc., reported the following in its financial statements for the year ended May 31, 2014 (in thousands):

Requirement
1. Determine the following cash receipts and payments for Heartstrings, Inc., during 2014 (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 stock
f. Payment of cashdividends

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A1 2014 2013 Income Statement Net sales Cost of sales Depreciation Other operating expenses Income tax expense Net income S 25,118S 21,543 15,333 227 4,283 18,162 268 3,885 537 488 2,266 1212 Balance Sheet Cash and equivalents Accounts receivable nventony Property and equipment, net 13 597 3,100 4,345 1,549 939 198 477 518 4,374 10 612 2,833 3,431 1,368 636 190 466 443 3,783 14 Accounts payable 15 Accrued liabilities 16 Income tax payable 1 Long-term liabilities Common stock 19 Retained earnings