Cash Collections—Direct Method Stanley Company’s comparative balance sheets included accounts receivable of $80,800 at December 31, 2007, and $101,100 at December 31, 2008. Sales reported by Stanley on its 2008 income statement amounted to $1,450,000. What is the amount of cash collections that Stanley will report in the Operating Activities section of its 2008 statement of cash flows assuming that the direct method is used?