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Mega Screens, Inc., reports net sales of $2,900,000, cost of goods sold of $1,700,000, and income tax expense of $144,000 for the year ended
Mega Screens, Inc., reports net sales of $2,900,000, cost of goods sold of $1,700,000, and income tax expense of $144,000 for the year ended December 31, 2021. Selected balance sheet accounts are as follows: MEGA SCREENS, INC. Selected Balance Sheet Data December 31 Increase (1) or 2021 Cash $147,000 2020 $189,000 Decrease (D) $42,000 (0) Accounts receivable 279,000 227,000 52,000 (1) Inventory 122,000 159,000 37,000 (0) Accounts payable 117,000 131,000 14,000 (0) Income tax payable 22,000 15,400 6,600 (1) Required: Calculate cash received from customers, cash paid to suppliers, and cash paid for income taxes. Cash received from customers Cash paid to suppliers Cash paid for income taxes
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