Question: Gladiator, Inc. uses the direct method to prepare its statement of cash flows. Use the following information reported for 2016 to compute the amount of

Gladiator, Inc. uses the direct method to prepare its statement of cash flows. Use the following information reported for 2016 to compute the amount of cash paid for merchandise inventory.

Cost of Goods Sold, $132,000

Merchandise Inventory, beginning balance, $26,000

Merchandise Inventory, ending balance, $68,000

Accounts Payable, beginning balance, $7,700

Accounts Payable, ending balance, $5,400

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