The financial statements of New World, Inc., provide the following information for the current year:

	Dec.31				Jan.1
Accounts receivable	$	291,000			$	421,500
Inventory	$	285,000			$	270,000
Prepaid expenses	$	74,400			$	72,000
Accounts payable (for merchandise)	$	264,300			$	257,550
Accrued expenses payable	$	66,150			$	81,450
Net sales	$	3,187,500
Cost of goods sold	$	1,681,500
Operating expenses (including depreciation of $67,000)	$	385,500

Compute the amount of New World's cash payments for purchases of merchandise during the current year.

Multiple Choice

• $1,673,250

• $3,195,750

• $1,544,250

• $1,689,750

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