December 31, Balance Sheet Data 2017 $ 84,000 2018 $ 78,000 Trade accounts receivable-net Inventory 150,000 (95,000) 140,000 (98,000) Accounts payable-merchandise (credit) Total sales for 2018 were $1,200,000 and for 2017 were $1,100,000. Cash sales were 20% of total sales each year. Cost of goods sold was $840,000 for 2018. .Variable general and administrative (G&A) expenses for 2018 were $120,000. These expenses are the same proportion of sales every year and have been paid at the rate of 50% in the year incurred and 50% the following year. Unpaid G&A expenses are not included in accounts payable. Fixed G&A expenses, including $35,000 depreciation and $5,000 bad debt expense, totaled $100,000 each year. The amount of such expenses involving cash payments was paid at the rate of 80% in the year incurred and 20% the following year. In each year, there was a $5,000 bad debt estimate and a $5,000 write-off. Unpaid G&A expenses are not included in accounts payable. Required: Compute the following: Answer is complete but not entirely correct. 1. The amount of cash collected during 2018 that resulted from total sales in 2017 and 2018. 1,201,000 $ 837.000x The amount of cash disbursed during 2018 for purchases of merchandise. The amount of cash disbursed during 2018 for variable and fixed G&A expenses. 2 $ 175,000 3