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The comparative balance sheets, Income statement and supplementary notes of the Initech Company are shown below. Supplementary notes: - In 2010, no common stock was

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The comparative balance sheets, Income statement and supplementary notes of the "Initech Company" are shown below. Supplementary notes: - In 2010, no common stock was repurchased or retired and no notes payable were issued. - Buldings 8 Equipment with a net book value of $92,500 (cost less accumulated depreclation) was sold in 2010. - Inventories are stated at the lower of cost or market. Cost is princlpally determined using the last-in, first-out (LIFO) method. The value of inventories on the UFO basis represented about 90% of total inventories at December 31,2010 and 85% at December 31, 2009. If the FIFO (first-in, first-out) method has been in use, inventories would have been $18,900 and $16,875 higher than reported at December 31,2010 and 2009 , respectively. REQUIRED: How much cash was collected from customers during 2010 : Show all work in order to receive credit

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