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18) In its 2021 Annual Report to Shareholders, Kinney Inc. reported the following Consolidated Statement of Cash Flows: For the years ended December 31, 2021

18) In its 2021 Annual Report to Shareholders, Kinney Inc. reported the following Consolidated Statement of Cash Flows: For the years ended December 31,

2021 2020
Cash flow from operating activities:
Cash received from customers $ 197,822,040 $ 211,673,952
Cash paid to suppliers and employees (191,176,791 ) (200,374,336 )
Interest paid, net (1,513,990 ) (2,048,523 )
Income taxes paid (416,650 ) (552,250 )
Cash provided by operations 4,714,609 8,698,843
Cash flow from investing activities:
Capital expenditures and acquisitions (2,953,579 ) (1,617,382 )
Expenditures for other assets (44,560 ) (138,420 )
Cash used in investing activities (2,998,139 ) (1,755,802 )
Cash flow from financing activities:
Principal payments of long-term debt and lease agreements (2,112,485 ) (6,460,175 )
Addition to long-term debt and lease liability 3,068,378 1,444,847
Purchase of common stock and other capital transactions (1,615,906 ) (913,231 )
Payment of dividends (865,558 ) (1,026,968 )
Cash provided by (used in) financing activities (1,525,571 ) (6,955,527 )
Net increase (decrease) in cash 190,899 (12,486 )
Cash at beginning of year 192,615 205,101
Cash at end of year $ 383,514 $ 192,615

2021 2020
Reconciliation of net income to net cash provided by operations:
Net income $ 1,755,933 $ 2,408,517
Depreciation and amortization 3,515,504 3,535,087
Deferred income taxes 206,000 345,766
Changes in assets and liabilities, net of acquisitions:
Decrease (increase) in receivables (2,907,353 ) 4,130,668
Decrease (increase) in inventories (356,508 ) 6,042,490
Increase (decrease) in prepaid expenses 362,648 (94,850 )
Increase (decrease) in controlled disbursements 374,394 84,718
Increase (decrease) in accounts payable 1,778,676 (8,174,148 )
Increase (decrease) in accrued expenses (14,685 ) 418,616
Other, net 1,979
Cash provided by operations $ 4,714,609 $ 8,698,843

Required: Kinney reported cost of goods sold of $168,214,150 in its fiscal 2021 income statement. Compute Kinneys net inventory purchases during the year.

Net purchases

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