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9. A company had the following during its most recent year: - Sales of $480,000 - Cost of goods sold of $260,000 - Net income
9. A company had the following during its most recent year: - Sales of $480,000 - Cost of goods sold of $260,000 - Net income after taxes of $120,000 - Increase in accounts payable of $4,800 - Decrease in accounts receivable of $6,000 - Increase in inventory of $3,200 - Decrease in taxes payable of $2,600 - Tax expense of $15,000 Compute the following. Show your work: a. Cash paid to suppliers b. Cash received from customers c. Cash paid for taxes
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