Luxe, Inc., reported the following in its financial statements for the year ended May 31, 2021 (in thousands): 

Requirement 

Determine the following cash receipts and payments for Luxe during the fiscal year ended May 31, 2021 (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 cash dividends

Transcribed Image Text:

1 2 Income Statement 3 45 4 5 67 6 7 234567 8 9 Balance Sheet 10 11 Accounts receivable Inventory 13 Property and equipment, net 12 A1 14 15 Net sales Cost of sales Depreciation Other operating expenses Income tax expense Net income Accounts payable Accrued liabilities 16 Income tax payable 17 Long-term liabilities Common stock 18 Retained earnings 19 20 Cash and cash equivalents 2021 $ 24,623 $ 18,176 $ $ 266 3,888 534 1,759 21 599 3,110 4,342 1,544 939 196 480 518 4,395 $ $ 2020 21,555 15,497 229 4,206 488 1,135 18 606 2,841 3,423 1,363 631 191 472 445 3,786