Hasbra Toys Ltd. had the following comparative balance sheet:

Compute for Hasbra Toys Ltd:
a. Collections from customers during 2014. Sales totalled $420,000.
b. Payments for inventory during 2014, assuming the change in Accounts Payable is due to inventory. Cost of goods sold was $240,000.

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HASBRA TOYS LTD Balance Sheet December 31, 2014 and 2013 Assets Current 2014 2013 Liabilities 2014 2013 Current Cash Accounts receivable162,000 Inventory $ 57,000 48,000 Accounts payable 141,000 126,000 69,000 63,000 240,000 232,000 Accrued liabilities 24,000 33,000 144,000 Salary payable Prepaid expenses 9,000 6,000 Long-term notes payable 270,000 Shareholders' Equity 198,000 204,000 225,000 Long-term investments Property and equipment, net Total Common shares 120,000 111,000 675,000 575,000 Retained earnings 816,000 738,000 $1,368,000 $1275,000 $1,368,000 $1,275,000 Total