The financial statements of New World, Incorporated, provide the following information for the current year: Accounts...

 

Transcribed Image Text:

The financial statements of New World, Incorporated, provide the following information for the current year: Accounts receivable Inventory Prepaid expenses Accounts payable (for merchandise) Accrued expenses payable Net sales Cost of goods sold Operating expenses (including depreciation of $58,000) What is the amount of New World's cash payments for operating expenses during the current year? December 31 $ 282,000 $ 273,750 $ 70,800 $ 250,800 $ 66,150 $ 3,142,500 $ 1,654,500 $ 376,500 January 1 $ 331,500 $ 261,000 $ 67,500 $ 239,550 $ 76,950 The financial statements of New World, Incorporated, provide the following information for the current year: Accounts receivable Inventory Prepaid expenses Accounts payable (for merchandise) Accrued expenses payable Net sales Cost of goods sold Operating expenses (including depreciation of $58,000) What is the amount of New World's cash payments for operating expenses during the current year? December 31 $ 282,000 $ 273,750 $ 70,800 $ 250,800 $ 66,150 $ 3,142,500 $ 1,654,500 $ 376,500 January 1 $ 331,500 $ 261,000 $ 67,500 $ 239,550 $ 76,950