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THE Company's 2022 statement of cash flows reported cash paid to suppliers for purchases of inventory of $367,000. The following accounts were taken from THE
THE Company's 2022 statement of cash flows reported cash paid to suppliers for purchases of inventory of $367,000. The following accounts were taken from THE Company's balance sheets during 2022: Accounts payable Accounts receivable Inventory Jan. 1, 2022 65,000 79,000 26,000 Dec. 31, 2022 44,000 84,000 83,000 Calculate the amount of cost of goods sold shown on THE Company's 2022 income statement. THE Company reported the following selected account balances for 2021: Accounts payable Common stock Inventory Investments Mortgage payable Retained earnings Jan. 1, 2021 47,000 100,000 52,000 68,000 99,000 33,000 Dec. 31, 2021 28,000 188,000 86,000 84,000 88,000 51,000 THE Company's 2021 income statement appears below: Sales revenue Cost of goods sold Other expenses Net income $500,000 360,000 85,000 $ 55,000 Calculate THE Company's net cash flows from financing activities for 2021
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