Determining Selected Amounts for Cash Flows from (Used for) Operating Activities -- Direct Method Selected data taken from the accounting records of Ginls Inc. for the current year ended December 31 are as follows: Balance, December 31 Balance, January 1 Accrued expenses payable (operating expenses) $7,480 $8,180 Accounts payable (merchandise creditors) 38,080 42,030 Inventories 69,410 75,450 During the current year, the cost of merchandise sold was $397,000, and the operating expenses other than depreciation were $104,400. The direct method is used for presenting the cash flows from operating activities on the statement of cash flows. a. Determine the amount reported on the statement of cash flows for cash paid for merchandise. X b. Determine the amount reported on the statement of cash flows for cash paid for operating expenses. X