Calculate cash payments 1 Cost of goods sold = $2 300 000 Inventory increased from $300 000 to $610 000 Accounts payable increased from $200 000 to $295 000 Required: calculate cash payments for purchases.

2 Income tax expense for the year = $48 000 Income taxes payable have increased by $15 000 to $20 500 Required: calculate cash payments for income tax.

3 Sales = $7 640 000 Accounts receivable increased from $1 000 000 to $1 870 000 Required: calculate cash receipts from sales.

4 Wages expense = $2 350 000 Wages payable decreased from $1 490 000 to $1 million.

Required: calculate cash paid for wages.