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King Company has provided the following information taken from its current financial statements to assist you in preparing its statement of cash flows. Additional Resources

King Company has provided the following information taken from its current financial statements to assist you in preparing its statement of cash flows.

Additional Resources

Cost of Goods Sold $481,600
Decrease in Accounts Receivable 6,500
Decrease in Merchandise Inventory 7,800
Depreciation Expense 7,500
Increase in Accounts Payable 8,400
Increase in Income Taxes Payable 7,600
Increase in Prepaid Expenses 6,100
Interest Expense 14,390
Net Income 143,620
Operating Expenses 137,700
Sales 828,000
Tax Expense 50,690

Required:

For the statement of cash flows, cash from operating activities, direct method, compute the following:

1. Cash paid to suppliers for inventory: $
2. Cash paid for operating expenses: $

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