Question: Relations between financial statements The following selected information is based on the 2007 financial statements of Beyond Petroleum (BP). BP applies IFRS, and reports its
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a. Accounts Receivable, January 1, 2007 (BS). 288,951 289,623 Sales on Account for 2007 (IS). Collections from Customers on Account during 2007 (SCF). Accounts Receivable, December 31, 2007 (BS). b. Income Taxes Payable, January 1, 2007 (Bs). Income Tax Expense for 2007 (IS).... Payments to Governments during 2007 (SCF) Income Taxes Payable, December 31, 2007 (BS). e. Trade Payables, January 1, 2007 (BS). .... Purchases of Supplies during 2007 (SCF) .... Payments to Suppliers during 2007 (SCF). Trade Payables, December 31, 2007 (BS). d. Retained Earnings, January 1, 2007 (BS). Net Income for 2007 (IS).... 38,020 $ 2,635 10,442 3,282 $ 42,236 15,162 43,152 S 8,453 21,169 8,106 Dividends Declared and Paid during 2007 (SCF). Retained Earnings, December 31, 2007 (BS).
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