Question: Selected data SERENA Corporation's comparative balance sheets for Year 1 and Year 2 are as follows: Yeart Year 2 Accounts Payable (net) 320,000 150,000 Merchandise
Selected data SERENA Corporation's comparative balance sheets for Year 1 and Year 2 are as follows: Yeart Year 2 Accounts Payable (net) 320,000 150,000 Merchandise Inventory 290,000 340,000 Accounts Receivable 80,000 41,000 An income statement for Year 2 shows the following: COGS: $680,000 How much cash was paid to suppliers for the goods ? Can we get the information how much was paid for the goods to supplier from the income statement? Why not? In which statement we will find this information
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