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The income statement for Edgebrook Company shows the cost of goods sold at $305,400 and operating expenses (exclusive of depreciation) $227,830. The comparative balance sheet
The income statement for Edgebrook Company shows the cost of goods sold at $305,400 and operating expenses (exclusive of depreciation) $227,830. The comparative balance sheet for the year shows that inventory increased by $21,810, prepaid expenses decreased by $7,650, accounts payable (related to merchandise) decreased $15,190, and accrued expenses payable increased $13,590.
Compute (a) cash payments to suppliers and (b) cash payments for operating expenses.
Do not copy from Chegg and give complete answer with explanation
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