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The following information was taken from the 2018 financial statements of Waterway Industries: Inventory, January 1, 2018 $ 177000 Inventory, December 31, 2018 242000 Accounts
The following information was taken from the 2018 financial statements of Waterway Industries:
Inventory, January 1, 2018 | $ 177000 |
Inventory, December 31, 2018 | 242000 |
Accounts payable, January 1, 2018 | 157000 |
Accounts payable, December 31, 2018 | 234000 |
Sales revenue | 1120000 |
Cost of goods sold | 802000 |
If the direct method is used in the 2018 statement of cash flows, what amount should Waterway report as cash payments to suppliers?
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