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help ASAP Required information (The following information applies to the questions displayed below.) In its 2018 Annual Report to Shareholders, Kinney Inc. reported the following

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Required information (The following information applies to the questions displayed below.) In its 2018 Annual Report to Shareholders, Kinney Inc. reported the following Consolidated Statement of Cash Flows For the years ended December 31, 2018 2017 $ 197,942,040 (191,276,791) (1,563,990) (406,650) 4,694,609 $ 211,773,952 (200,474,336) (2,098,523) (542,250) 8,658,843 Cash flow from operating activities: Cash received from customers Cash paid to suppliers and employees Interest paid, net Income taxes paid Cash provided by operations Cash flow from investing activities: Capital expenditures and acquisitions Expenditures for other assets Cash used in investing activities Cash flow from financing activities: Principal payments of long-term debt and lease agreements Addition to long-term debt and lease liability Purchase of common stock and other capital transactions Payment of dividends Cash provided by (used in financing activities Net increase (decrease) in cash Cash at beginning of year Cash at end of year (3,003,579) 43,560) (3,047,139) (1,667,382) (137,420) (1,804,802) (2,062,485) 3,068, 378 (1,605, 906) (855,558) (1,455,571). 191,899 192,615 384,514 (6,370,175) 1,434,847 (908,231) (1,021,968) (6.865,527) (11,486) 204,101 192,615 $ 2018 2017 $ 1,747,833 3,505,504 205.000 $ 2,382,027 3,525,087 344.766 Reconciliation of net income to net cash provided by operations: Net income Depreciation and amortization Deferred income taxes Changes in assets and liabilities, net of acquisitions: Decrease increase) in receivables Decrease increase) in inventories Increase (decrease) in prepaid expenses Increase (decrease in controlled disbursements Increase (decrease) in accounts payable Increase (decrease) in accrued expenses other, net Cash provided by operations (2,897,353) (355,508) 361,648 373, 394 1,768,676 (14,585) 4,120,668 6,041,490 (94,350) 83,718 (8,164,148) 417,616 1.969 $ 8,658,843 $ 4,694,609 Kinney reported cost of goods sold of $168,114,150 in its fiscal 2018 income statement. Required: Assuming that Kinney uses accounts payable strictly for inventory purchases and that all such purchases are on credit, how much ce did Kinney pay during the year for inventories: (a) Cash paid to inventory suppliers (b) Cash paid to employees

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