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Calculate cash received from customers, cash paid to suppliers, and cash paid for income taxes. Mega Screens, Inc., reports net sales of $2,600,000, cost of
Calculate cash received from customers, cash paid to suppliers, and cash paid for income taxes.
Mega Screens, Inc., reports net sales of $2,600,000, cost of goods sold of $1,400,000, and income tax expense of $138,000 for the year ended December 31, 2021. Selected balance sheet accounts are as follows: 16.66 points MEGA SCREENS, INC. Selected Balance Sheet Data December 31 Increase (I) or eBook Hint Cash Accounts receivable Inventory Accounts payable Income tax payable 2021 $144,000 273,000 119,000 114,000 19,000 2020 $183,000 224,000 153,000 125,000 14,800 Decrease (D) $39,000 (D) 49,000 (I) 34,000 (D) 11,000 (D) 4,200 (I) Print References Required: Calculate cash received from customers, cash paid to suppliers, and cash paid for income taxes. Cash received from customers Cash paid to suppliers Cash paid for income taxes $ $ $ 2,551,000 1,355,000 133,800Step by Step Solution
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