Assume a merchandising company reported the following income statement Sales Cost of goods sold Gross margin Selling and administrative expenses Net income before taxes Income tax expense Net income Selected balance sheet accounts are as follows $ 300,000 180,000 120,000 80,000 40,000 12,000 $ 28,000 Beginning Balance Ending Balance Current Assets Accounts receivable- $ 60,000 $ 67,800 Inventory $ 30,000 $ 28,000 Prepaid expenses $ 8,000 Current Liabilities Accounts payable Accrued liabilities Income taxes payable $ 10,000 $7,000 $ 4,000 What are the company's cash collections from customers? $ 6,000 $13,000 $ 6,000 $ 4,000 Multiple Choice O O $309,800 $307,800 $290,200 $292.200