The financial statements of New World, Inc. provide the following information for the current year: Dec. 31 Jan.1 Accounts receivable $ 273,000 $ 241,500 Inventory $ 262,500 $ 252,000 Prepaid expenses $ 67,200 $ 63,000 Accounts payable (for merchandise) $ 237,300 $ 221,550 Accrued expenses payable $ 66,150 $ 72,450 Net sales $ 3,097,500 Cost of goods sold $ 1,627,500 Operating expenses (including depreciation of $94,500) $ 367,500 Compute the amount of New World's cash payments for purchases of merchandise during the current year. O $1,627,500 O $1.638,000 O $1.622.250 O $2,157,750