Income Statement for the year:

Sales $ 900,000

Cost of Goods Sold 430,000

Gross Profit $ 470,000

Operating Expenses 250,000

Net Income before Taxes $ 220,000

Taxes 35,000

Net Income $ 185,000

Account Balance Changes during the year:

Inventory decrease $80,000

Accounts Payable increase $25,000

Accounts Receivable increase $65,000

Depreciation Expense $75,000

Prepaid expenses decrease $5,000

Accrued liabilities (e.g., Wages Payable) increase $15,000

Taxes Payable decrease $12,000

What were cash receipts from sales for the year, using the direct method?

What was the amount of cash payments made during the year for inventory purchases, using the direct method?

What was the amount of cash payments for operating expenses this year, using the direct method?

What was the amount of cash payments for taxes this year, using the direct method?