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Determining Operating Cash Flows-Direct Method Adjusted trial balances for Garboz Company, an industrial recycler, at December 31, 2020, and 2019, follow. Debits, December 31 2020

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Determining Operating Cash Flows-Direct Method Adjusted trial balances for Garboz Company, an industrial recycler, at December 31, 2020, and 2019, follow. Debits, December 31 2020 2019 Cash $35.000 $32.000 Accounts receivable 33.000 30,000 Inventory 31.000 47.000 Property, plant and equipment 100.000 95.000 Discount on bonds payable 4.500 5.000 Cost of goods sold 250,000 380.000 Selling expenses 141.500 172.000 General and administrative expenses 137,000 151,300 Interest expense 4.300 2.600 Income tax expense 20,400 61,200 Total debits $756.700 $976.100 Credits. December 31 2020 2019 Allowance for doubtful accounts $1.300 5 1.100 Accumulated depreciation 16.500 15.000 Trade accounts payable 25.000 17.500 Income taxes payable 21.000 27.100 Deferred income tax liability 5.300 4.600 Callable bonds payable, 8% 45,000 20,000 Common stock 50.000 40,000 Additional paid-in capital 9.100 7.500 Retained earnings 44.700 64.600 Sales 538,800 778.700 Total credits $756.700 $976.100 Additional information 1. Purchased $5,000 of equipment in 2020. 2. Allocated one-third of its depreciation expense to selling expenses and the remainder to general and administrative expenses. 3. Assume no accounts receivable were written off or recovered during the year. Required What amounts should Garboz report in its statement of cash flows for the year ended December 31, 2020, for the following? Note: Do not use negative signs with your answers. a. Cash collected from customers s b. Cash paid to suppliers c. Cash paid for interest d. Cash paid for income taxes e. Cash paid for selling expenses S S S S

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