Question 1 Sheffield Corp. prepares its statement of cash flows using the direct method for operating activities. For the year ended December 31, 2018, Sheffield Corp. reports the following activity: Sales on account Cash sales Decrease in accounts receivable Increase in accounts payable Increase in inventory Cost of goods sold $2010000 1110000 913000 115000 72000 1574000 What is the amount of cash payments to suppliers reported by Sheffield Corp. for the year ended December 31, 2018? O $1531000 O $1761000 O $1387000 O $1617000