1. Cost of goods sold = $2300 000 

Inventory increased from $300 000 to $610 000 

Accounts payable increased from $200 000 to $295 000

Required: 

Calculate cash payments for purchases.
2. Income tax expense for the year = $48 000 

Income taxes payable have increased by $15 000 to $20 500

Required: 

Calculate cash payments for income tax.
3. Sales = $7 640 000 

Accounts receivable increased from $1 000 000 to $1 870 000

Required: 

Calculate cash receipts from sales.
4. Wages expense = $2 350 000 

Wages payable decreased from $1 490 000 to $ 1 million.

Required: 

Calculate cash paid for wages.