The financial statements of New World, Incorporated, provide the following information for the current year: December 31 January 1 Accounts receivable $ 274,000 $ 251,500 Inventory $ 263, 750 $ 253,000 Prepaid expenses $ 67,600 $ 63,500 Accounts payable (for merchandise) $ 238,800 $ 223,550 Accrued expenses payable $ 66,150 $ 72,950 Net sales $ 3,102,500 Cost of goods sold $ 1,630,500 Operating expenses (including depreciation of $50,000) $ 368,500 What is the amount of New World's cash payments for purchases of merchandise during the current year? Multiple Choice $1,635,000 a $1,626.000