Compute the following items for the statement of cash flows: statement of cash flows

\((O b j .3,4)\)

Computing investing and financing amounts for the statement of cash flows

(Obj. 4)

Computing cash flows from operating activities-indirect metbod

(Obj. 5)

a. Cost of goods sold is \(\$ 82,000\). Beginning Inventory balance is \(\$ 25,000\), and ending Inventory balance is \(\$ 21,000\). Beginning and ending Accounts Payable are \(\$ 11,000\) and \(\$ 8,000\), respectively. How much are cash payments for inventory?

b. Beginning and ending Accounts Receivable are \(\$ 22,000\) and \(\$ 26,000\), respectively. Credit sales for the period total \(\$ 81,000\). How much are cash collections?