The financial statements of New World, Incorporated, provide the following Information for the current year December 31 Accounts receivable $ 283,000 Inventory $ 275,000 Prepaid expenses $ 71,200 Accounts payable (for merchandise) $ 252,300 Accrued expenses payable $ 66,150 Net sales $ 3,147,500 Cost of goods sold $ 1,657,500 Operating expenses (including depreciation of $59,000) $ 377,500 What is the amount of New World's cash payments for purchases of merchandise during the current year? January 1 $ 341,500 $ 262,000 $ 68,000 $ 241,550 $ 77,450 Multiple Choice O $1,588,260 O $1659,750 O $3149,750 O $1655.250