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Company A, reports net sales of $2,200,000, cost of goods sold of $1,000,000, and income tax expense of $130,000 for the year ended December 31,

Company A, reports net sales of $2,200,000, cost of goods sold of $1,000,000, and income tax expense of $130,000 for the year ended December 31, Year 2. Selected balance sheet accounts are as follows:

Company A
Selected Balance Sheet Data
December 31
Year 2 Year 1 Increase (I)
or
Decrease (D)
Cash $ 140,000 $ 175,000 $ 35,000 (D)
Accounts receivable 265,000 220,000 45,000 (I)
Inventory 115,000 145,000 30,000 (D)
Accounts payable 110,000 117,000 7,000 (D)
Income tax payable 15,000 14,000 1,000 (I)


Required:
Calculate cash received from customers, cash paid to suppliers, and cash paid for income taxes.

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