Reference no: EM132569230

The financial statements of New World, Inc., provide the following information for the current year:

                                                                        Dec.31                     Jan.1

Accounts receivable                               $ 273,000                $ 241,500

Inventory                                                $ 262,500                 $ 252,000

Prepaid expenses                                         $ 67,200                 $ 63,000

Accounts payable (for merchandise)                    $ 237,300                $ 221,550

Accrued expenses payable                                      $ 66,150             $72,450

Net sales $ 3,097,500

Cost of goods sold $ 1,627,500

Operating expenses (including depreciation of $94,500) $ 367,500

Question i. Compute the amount of cash received from customers during the current year.

Question ii. Compute the amount of New World's cash payments for purchases of merchandise during the current year.

Question iii. Compute the amount of New World's cash payments for operating expenses.

Question iv. New World's net cash flow from operating activities for the current year is: