Assignment 12 Question 3 of 4 View Policies Show Attempt History < > Current Attempt in Progress Your answer is incorrect. 0/5 E Vaughn Corp. uses the direct method to prepare its statement of cash flows. Vaughn trial balances at December 31, 2020 and 2019, are as follows. December 31 Debits Cash 2020 2019 $35,400 $31,700 Accounts receivable 32,900 29,900 Inventory 30,700 47,300 Property, plant, & equipment 100,500 95,500 Unamortized bond discount 4,500 5,000 Cost of goods sold 250,800 379,500 Selling expenses 142,600 173,300 General and administrative expenses 138,300 151,000 Interest expense 4,200 2,600 Income tax expense 20,300 61,000 $760,200 $976,800 Credits Allowance for doubtful accounts $1,300 $1,100 Accumulated depreciation-plant assets 16,300 14,800 Accounts payable 25,300 15,600 Income taxes payable 20,900 28,800 Deferred tax liability 5,300 4,600 8% callable bonds payable 45,000 20,000 Common stock 50,000 40,000 Paid-in capital in excess of par 9,000 7,500 Retained earnings 44,400 65,100 Sales revenue 542,700 779,300 $760,200 $976,800 Additional information: 1. Vaughn purchased $5,000 in equipment during 2020. 2. Vaughn allocated one-third of its depreciation expense to selling expenses and the remainder to general and administrative expenses. 3. Bad debt expense for 2020 was $4,900, and write-offs of uncollectible accounts totaled $4,700. Determine what amounts Vaughn should report in its statement of cash flows for the year ended December 31, 2020, for the following items. (a) Cash collected from customers. $ 447700 (b) Cash paid to suppliers. $ 267400 (c) Cash paid for interest. $ 4200 (d) Cash paid for income taxes. $ 28200 (e) Cash paid for selling expenses. $ 137167 eTextbook and Media Save for Later Attempts: 1 of 3 used Submit Answer SUPPORT