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Murphy Company has provided the following information taken from its current financial statements to assist you in preparing its statement of cash flows. Cost of
Murphy Company has provided the following information taken from its current financial statements to assist you in preparing its statement of cash flows. Cost of Goods Sold $584,500 Decrease in Merchandise Inventory 7,400 Depreciation Expense 8,900 Increase in Accounts Payable 7,800 Increase in Accounts Receivable 6,400 Increase in Income Taxes Payable 8,300 7,300 Increase in Prepaid Expenses Interest Expense Net Income Operating Expenses 16,900 163,610 156,800 978,000 56,190 Sales Tax Expense Required: For the statement of cash flows, cash from operating activities, direct method, compute the following: 1. Cash received from customers: $ 2. Cash paid to suppliers for inventory: $
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