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Find the cash payments to suppliers

P12-3 (Algo) (Supplement A) Preparing a Statement of Cash Flows (Direct Method) Sharp Screen Films, Inc., is developing its annual financial statements at December 31, current year. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized as follows: Prior Year Current Year Balance sheet at December 31 Cash 64,400 68,750 16,050 23,250 209,950 (60,100) $257,900 Accounts receivable 23,250 18,400 151,200 (46,150) $211,100 Merchandise inventory Property and equipment Less: Accumulated depreciation Accounts paya ble Wages payable Note payable, long-term Common stock and additional paid-in capital Retained earnings 20,000 5,000 72,100 66,300 47,700 $211,100 9,900 1,700 61,300 99,800 85,200 $257,900 Income statement for current year Sales $199,000 Cost of goods sold Depreciation expense Other expenses 96,000 13,950 43,400 45,650 Net income Additional Data: a. Bought equipment for cash, $58,750 b. Paid $10,800 on the long-term note payable. c. Issued new shares of stock for $33,500 cash. d. Dividends of $690 were declared and paid. e. Other expenses all relate to wages. f. Accounts payable includes only inventory purchases made on credit

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