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26 The income statement for Electronic Wonders reports net sales of $91,638 million and cost of goods sold of $69,158 million. An examination of
26 The income statement for Electronic Wonders reports net sales of $91,638 million and cost of goods sold of $69,158 million. An examination of balance sheet amounts indicates accounts receivable increased $1,721 million, inventory increased $871 million, and accounts payable to suppliers decreased $1,955 million. Required: Using the direct method, calculate (1) cash received from customers and (2) cash paid to suppliers. (Enter your answers in millions (i.e., $10,100,000 should be entered as 10.1).) Net sales Cash received from customers Cost of goods sold Purchases Cash paid to suppliers
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