3. $54,000 is owed to suppliers of inventory at the start of the year and $44,000 is owed to those suppliers at the end of the year. If all inventories are purchased on credit and the total credit purchases of inventory during the year were $160,000, what was the cash paid to suppliers of inventory during the year? * (1 Point) $160,000 $214,000 $170,000 $150,000 None of the above