Stenback Medical Supply, Inc., reported the following financial statements for 2018: E(Click the icon to view the income statement.) (Click the icon to view the balance sheet.) Use the information in Stenback Medical Supply, Inc.'s financial statements to compute the following: 1. Collections from customers 2. Payments for inventory 1. Compute the collections from customers. Select the formula needed to determine this amount and then enter the amounts to calculate the collections from customers. (Use parentheses or a minus sign to indicate a nec Accounts receivable Revenue Collections from customers 2. Compute the payments for inventory. Select the formula needed to determine this amount and then enter the amounts to calculate the payments for inventory. (Use parentheses or a minus sign to indicate a negative Accounts payable Payments Stenback Medical Supply, Inc., reported the following financial statements for 2018: EEB (Click the icon to view the income statement.) (Click the icon to view the balance sheet.) Use the information in Stenback Medical Supply, Inc.'s financial statements to compute the following: 1. Collections from customers 2. Payments for inventory 1. Compute the collections from customers. Select the formula needed to determine this amount and then enter the amounts to calculate the collections from customers. (Use parentheses or a Collections from customers Y Accounts receivable 2. Compute the payments for inventory Cash Select the formula needed to determine this an Decr. (Incr.) in Accounts receivable he payments for inventory. (Use parentheses or a minu Accounts payable Incr. (Decr.) in Accounts receivable Payments Revenue . Compute the payments for inventory. Select the formula needed to determine this amount and then enter the amounts to calculate the + Accounts payable Cash Cost of goods sold Decr. (Incr.) in AP Decr. (Incr) in Inventory Incr. (Decr.) in AP Incr. (Decr.) in Inventory TH 2 of 8 stion: 6 pts Medical Supply, Inc., reported the following financial statements for 2018 k the icon to view the income statement.) m (Click the icon to view the balance sheet.) Data Table X Data Table Stenback Medical Supply, Inc. Stenback Medical Supply, Inc. Comparative Balance sheet Income Statement December 31, 2018 and 2017 Year Ended December 31, 2018 2017 2018 Liabilities 2017 2018 Assets Revenue Current Current 716,000 $ 52.000 s 42,000 19,000 Sales revenue $ 22,000 S 19,000 63,000 78,000 2.000 73.000 Accounts payables bren Cash Expenses 28,000 46,000 Salaries payable Accounts receivable s 325.000 Cost of goods sold 18,000 68,000 2,000 Accrued Sabilties 93,000 60,000 192,000 Inventory Depreciabion expense 65,000 1,000 Long-tem notes payable Prepaid expenses Other expenses 91,000 Stockholders Equity Long-term investments Fixed assets, net 586.000 32.000 50,000 Total expenses 181,000 Common stock Retained earnings 221,000 130.000 262,000 252,000 Not income Total Liabiltios and s 450,000 S 431 000 Done S 459,000 $ 431,000 Print Stockholders Equity Total Assets Done Print Choose from any list or enter any number in the input fields and then continue to the next question. Save for Later Type here to search