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Coronado Industries prepares its statement of cash flows using the direct method for operating activities. For the year ended December 31, 2018, Coronado Industries reports

Coronado Industries prepares its statement of cash flows using the direct method for operating activities. For the year ended December 31, 2018, Coronado Industries reports the following activity:

Sales on account$2060000Cash sales1103000Decrease in accounts receivable913000Increase in accounts payable112000Increase in inventory78000Cost of goods sold1580000

What is the amount of cash payments to suppliers reported by Coronado Industries for the year ended December 31, 2018?

$1614000

$1546000

$1770000

$1390000

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