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