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What is the amount of cash collections from customers

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Question - Oriole Company prepares its statement of cash flows using the direct method for operating activities. For the year ended December 31, 2018, Oriole Company reports the following activity:

Sales on account $2000000

Cash sales 1110000 Decrease in accounts receivable 918000

Increase in accounts payable 114000 Increase in inventory 74000

Cost of goods sold 1570000

Required - What is the amount of cash collections from customers reported by Oriole Company for the year ended December 31, 2018?

a. $4028000

b. $2192000

c. $3110000

d. $2918000

Reference no: EM132535659

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