Computation of Operating Cash Flows
Toggle Company reported sales of $310,000 and cost of goods sold of $180,000 for 20X2. During 20X2, Toggle’s accounts receivable increased by $17,000, inventory decreased by $8,000, and accounts payable decreased by $21,000.
Required
Compute the amounts to be reported by Toggle as cash received from customers, cash payments to suppliers, and cash flows from operating activities for 20X2.
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