Question

Mega Screens, Inc., reports net sales of $2,400,000, cost of goods sold of $1,600,000, and income tax expense of $110,000 for the year ended December 31, 2015. Selected balance sheet accounts are as follows:


Required:
Calculate cash received from customers, cash paid to suppliers, and cash paid for incometaxes.


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  • CreatedJuly 15, 2014
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