Answer:
Cash Received from customers = $293,000
Cash payments to suppliers = $167,000
Cash flows from operating activities = $460,000
Explanation:
<u>Cash Received from customers is calculated as follows :</u>
Sales $310,000
Less Increase in accounts receivable ($17,000)
Cash Received from customers $293,000
<u>Cash payments to suppliers is calculated as follows :</u>
Cost of goods sold $180,000
Decrease in Inventory $8,000
Decrease in Payable ($21,000)
Cash payments to suppliers $167,000
<u>Cash flows from operating activities is calculated as follows :</u>
Cash Received from customers $293,000
Cash payments to suppliers $167,000
Cash flows from operating activities $460,000
