Autos of Red Deer Inc. reported the following financial statements for 2017: Autos of Red Deer Inc..

Autos of Red Deer Inc. reported the following financial statements for 2017: Autos of Red Deer Inc. Income Statement For the Year Ended December 31, 2017 (In Thousands) Sales revenue ……………………………………………. $710 Cost of goods sold ……………………………………….. 340 Salary expense …………………………………………….. 70 Depreciation expense ………………………………………. 20 Other expense ……………………………………………… 130 Total expense ……………………………………………… 560 Net income ……………………………………………….. $150 Compute the following: a. Collections from customers b. Payments for inventory?

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