4) Worldwide Corp.'s statement of financial position accounts as of December 31, 2019 and 2018 and information relating to 2019 activities are presented below.

December 31,

20192018

Assets

Cash$440,000$160,000

Short-term investments800,000-

Accounts receivable (net)1,050,0001,140,000

Inventory1,160,0001,020,000

Long-term investments400,000600,000

Plant assets3,100,0002,000,000

Accumulated depreciation(700,000)(900,000)

Patent280,000300,000

Total assets$6,530,000$4,320,000

Liabilities and Equity

Accounts payable$1,490,000$1,210,000

Other accrued liabilities200,000250,000

Notes payable (nontrade)560,000-

Common Stock-$10 par1,600,0001,400,000

Additional paid-in capital800,000500,000

Retained earnings1,880,000960,000

Total equity and liabilities$6,530,000$4,320,000

Information relating to 2019 activities:

Net income for 2019 was $1,220,000. This amount includes net sales revenue of $4,500,000 and cost of goods sold of $2,200,000.

Equipment costing $1,000,000 and having a carrying amount of $320,000 was sold in 2019 for $360,000.

A long-term investment was sold in 2019 for $345,000. There were no other transactions affecting long-term investments in 2019.

20,000 ordinary shares were issued in 2019 for $25 a share.

Short-term investments consist of treasury bills maturing on 9/30/20.

Compute cash paid for merchandise.

A) $2,060,000

B) $2,200,000

C) $2,340,000

D) $2,620,000