Vaughn Manufacturing Comparative Balance Sheets December 31, 2019 2018 Assets: Current Assets: Cash $1360000 $1070000 3120000 2180000 Accounts Receivable (net) Inventory 3800000 2510000 Prepaid Expenses 702000 628000 8982000 Total Current Assets 6388000 449000 Long-Term Investments Plant Assets: Property, Plant & Equipment 4390000 2882000 Accumulated Depreciation (900000) (541000) Total Plant Assets 3490000 2341000 $12921000 $8729000 Total Assets Equities: Current Liabilities: Accounts Payable $2548000 $2192000 Accrued Expenses 617000 562000 Dividends Payable 402000 Total Current Liabilities 3567000 2754000 Long-Term Notes Payable Stockholders' Equity: 1651000 Common Stock 6100000 5000000 Retained Earnings 1603000 975000 $12921000 $8729000 Total Equities Vaughn Manufacturing Comparative Income Statements December 31, 2019 2018 $7505000 Net Credit Sales $14030000 Cost of Goods Sold 7831000 3764000 Gross Profit 6199000 3741000 Operating Expenses (including Income Tax) 5174000 2746000 $1025000 995000 Net Income Additional Information: a. Accounts receivable and accounts payable relate to merchandise held for sale in the normal course of business. The allowance for bad debts was the same at the end of 2019 and 2018, and no receivables were charged against the allowance Accounts payable are recorded net of any discount and are always paid within the discount period b. The proceeds from the note payable were used to finance the acquisition of property, plant, and equipment. Capital stock was sold to provide additional working capital. What amount of cash was collected from 2019 accounts receivable? $13090000. $6545000. $14970000 $14030000