BusinessCourse Time left 1:18:55 Return to co Question 7 Answer saved Marked out of 1.04 Calculating Operating Cash Flows (Direct Method) Chakravarthy Company's current year income statement Sales $1,031,250 Cost of goods sold 687.500 Gross profit $343,750 Chakravarthy's comparative balance sheets show the foll- End of Year Beg. of Year Accounts receivable Inventory Accounts payable $88,750 $75,000 136,250 120,000 38,750 46,250 Compute Chakravarthy's current-year cash received from m Do not use negative signs with your answers. Cash received from customers S Cash paid for merchandise 0 S 0 Previous Save Answers @ 600 000 F3 DOO Question 7 Answer saved Marked out of 1.04 Calculating Operating Cash Flows (Direct Method) Flag question Chakravarthy Company's current year income statement reports the following: Sales Cost of goods sold Gross profit $1,031,250 687,500 $343,750 Chakravarthy's comparative balance sheets show the following (accounts payable relate to merchandise purchases Accounts receivable Inventory Accounts payable End of Year Beg, of Year $88,750 $75,000 136,250 120,000 38,750 46,250 Compute Chakravarthy's current-year cash received from customers and cash paid for merchandise purchased. Do not use negative signs with your answers, Cash received from customers 0 Cash paid for merchandise