Given below are a firm$$s $(1)$ cash flows from operating activities section of its cash

flow statement for a year, and $(2)$ income statement for the year.

Partial Cash Flow Statement

Cash Flows from Operating Activities

Net income..................................................................... $ $23,000$

Adjustments to reconcile income to operating cash

flow: Depreciation................................................................ $ $14,000$

Decrease in accounts receivable $................................3,600$

Increase in inventory........................................................... $(4,000)$

Increase in accounts payable...................................... $7,100$

Increase in wages payable.......................................... $700$

Decrease in income taxes payable $.............................(400)$

Total adjustments $.....................................................21,000$

Net cash provided by operating activities $......................$ $ $44,000$

Income Statement

Sales $..........................................$ $ $326,000$

Expenses:

Cost of goods sold................... $ $191,000$

Wage expense $........................60,000$

Depreciation $............................14,000$

Other expenses $.......................25,000290,000$

Income before taxes $.............36,000$

Income taxes.............................. $13,000$

Net income............................ $ $23,000$

All inventory purchases and other expenses were incurred on account.

Indicate whether the following statements are $$True$$ or $$False$$ by circling your

answers below $($each answer is worth $2$ points$)$:

A$)$ T F Cash collected from customers during the year amounted to $$329,600.$

B$)$ T F Cash paid to suppliers of goods and services $($excluding wage

payments$)$ during the year amounted to $$219,100.$

C$)$ T F Cash paid to employees for wages during the year amounted to

$$59,300.$

D$)$ T F Income tax payments during the year amounted to $$13,400.$

E$)$ T F Cash received from depreciation during the year amounted to $$14,000$