The following information applies to the questions displayed below.) 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 $58,000) Dec.31 $ 282,000 $ 273, 750 $ 70, 800 $ 250, 800 $ 66, 150 $3,142,500 $1,654,500 $ 376,500 Jan.1 $ 331,500 $ 261,000 $ 67,500 $ 239, 550 $ 76,950 Compute the amount of New World's cash payments for purchases of merchandise during the current year