(Answered) Problemthe income statement for glazed ham shows cost of

Accounting

Problem

The income statement for Glazed Ham shows cost of goods sold $840,000 and operating expenses (exclusive of depreciation) of $572,000. The comparative balance sheet for the year shows that inventory decreased $106,900, prepaid expenses decreased $17,000, accounts payable (related to merchandise) increased $68,900, and accrued expenses payable increased $35,000.

Compute (a) cash payments to suppliers and (b) cash payments for operating expenses. (Please show all calculations)

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