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The income statement for Blues Traveler Company shows cost of goods sold $308,560 and operating expenses (exclusive of depreciation) $231,710. The comparative balance sheet for
The income statement for Blues Traveler Company shows cost of goods sold $308,560 and operating expenses (exclusive of depreciation) $231,710. The comparative balance sheet for the year shows that inventory increased $21,500, prepaid expenses decreased $7,900, accounts payable (related to merchandise) decreased $16,760, and accrued expenses payable increased $13,950. Compute (a) cash payments to suppliers and (b) cash payments for operating expenses.
(a) Cash payments to suppliers $
(b) Cash payments for operating expenses $
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