The financial statements of New World, Inc., provide the following information for the current year: $ $ Accounts receivable Inventory Prepaid expenses Accounts payable (for merchandise) Accrued expenses payable Net sales Cost of goods sold Operating expenses (including depreciation of $94,500) Jan. 1 273,000 $ 262,500 $ 67,200 $ 237,300 66,150 ) Dec.31 241,500 $ 252,000 $ 63,000 $ 221,550 72,450 $3,097,500 $1,627,500 $367,500 $ Compute the amount of New World's cash payments for purchases of merchandise (suppliers)during the current year. $1,627,500 $1,622,250 $1,638,000 $2,157,750 Some other amount