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Mega Screens, Inc., reports net sales of $3,050,000, cost of goods sold of $1,850,000, and income tax expense of $147,000 for the year ended December
Mega Screens, Inc., reports net sales of $3,050,000, cost of goods sold of $1,850,000, and income tax expense of $147,000 for the year ended December 31, 2015. Selected balance sheet accounts are as follows:
MEGA SCREENS, INC. Selected Balance Sheet Data December 31 | ||||
2015 | 2014 | Increase (I) or Decrease (D) | ||
Cash | $148,500 | $192,000 | $43,500 | (D) |
Accounts receivable | 282,000 | 228,500 | 53,500 | (I) |
Inventory | 123,500 | 162,000 | 38,500 | (D) |
Accounts payable | 118,500 | 134,000 | 15,500 | (D) |
Income tax payable | 23,500 | 15,700 | 7,800 | (I) |
Required: |
Calculate cash received from customers, cash paid to suppliers, and cash paid for income taxes. |
cash receied from cusromers=
cash paid to suppliers=
cash paid for income taxes=
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