content area top Part 1 White Medical Supply, Inc., reported the following financial statements for 2018: White Medical Supply, Inc. Income Statement Year Ended December 31, 2018 Revenue: Sales revenue $716,000 Expenses: Cost of goods sold $333,000 Depreciation expense 62,000 Other expenses 196,000 Total expenses 591,000 Net income $125,000 . Use the information in White Medical Supply, Inc.'s financial statements to compute the following: 1. Collections from customers 2. Payments for inventory