A comparative balance sheet, income statement, and additional information for Xavier Metals Company follow.

Additional information for Xavier:

(a) All accounts receivable and accounts payable relate to trade merchandise.

(b) The proceeds from the notes payable were used to finance plant expansion.

(c) Capital stock was sold to provide additional working capital.

Compute the following for 2008:

1. Cash collected from accounts receivable, assuming all sales are on account.

2. Cash payments made on accounts payable to suppliers, assuming that all purchases of inventory are on account.

3. Cash payments for dividends.

4. Cash receipts that were not provided by operations.

5. Cash payments for assets that were not reflected in operations.

Xavier Metals Company Comparative Balance Sheet December 31, 2008 and 2007 2008 2007 Current assets: $119,000 59.000 312,000 $98,000 Available-for-sale securities Accounts receivable 254,000 239,000 21,000 $612,000 $409,000 (53,000) 5356,000 $968,000 Prepaid expenses Total current assets 35,000 803,000 $536,000 (76,000) $ 460,000 $1,263.000 Property. plant, and equipment.. Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued expenses Dividends payable Total current liabilities ..$ 212,000 98,000 40,000 350,000 25,000 475,000 5198,000 76,000 $274,000 Notes payable-due 2010 Total liabilities $274,000 Stockholders' equity Common stock Retained earnings Total stockholders' equity 600,000 88,000 $788,000 $1,263.000 $550,000 44,000 $694,000 $968,000 Total liabilities and stockholders' equity Xavier Metals Company Condensed Comparative Income Statement For the Years Ended December 31, 2008 and 2007 5 2008 Net sales Cost of goods sold Gross proft $3,561,000 3 $3.254.000 2,568,000 $ 686,000 486,000 200,000 2,789,000 $ 772,000 .. 521,000 Net income $251,000