Business, 12.02.2021 01:10 angel13sigala

Mega Screens, Inc., reports net sales of $3,000,000, cost of goods sold of $1,800,000, and income tax expense of $146,000 for the year ended December 31, 2021. Selected balance sheet accounts are as follows: MEGA SCREENS, INC. Selected Balance Sheet Data December 31 2021 2020 Increase (I) or Decrease (D) Cash $ 148,000 $ 191,000 $ 43,000 (D) Accounts receivable 281,000 228,000 53,000 (I) Inventory 123,000 161,000 38,000 (D) Accounts payable 118,000 133,000 15,000 (D) Income tax payable 23,000 15,600 7,400 (I) Required: Calculate cash received from customers, cash paid to suppliers, and cash paid for income taxes.

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Mega Screens, Inc., reports net sales of $3,000,000, cost of goods sold of $1,800,000, and income ta...

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