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The income statement for Blues Traveler Company shows cost of goods sold $308,180 and operating expenses (exclusive of depreciation) $231,200. The comparative balance sheet for
The income statement for Blues Traveler Company shows cost of goods sold $308,180 and operating expenses (exclusive of depreciation) $231,200. The comparative balance sheet for the year shows that inventory increased $20,100, prepaid expenses decreased $7,730, accounts payable (related to merchandise) decreased $19,810, and accrued expenses payable increased $14,070. Compute (a) cash payments to suppliers and (b) cash payments for operating expenses.
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