A company reported the following information: Accounts payable, December 31, 2022 $ 60,000 Accounts payable, December 31, 2023 80,000 Inventory, December 31, 2022 45,000 Inventory, December 31, 2023 60,000 Cost of goods sold, 2023 1,000,000 Assuming all merchandise purchases were on account, how much cash was paid to suppliers for merchandise purchases during 2023? a. $1,050,000 b. $995,000 c. $1,005,000 d. $1,020,000