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Question - Coronado Industries prepares its statement of cash flows using the direct method for operating activities. For the year ended December 31, 2018, Coronado Industries reports the following activity:
Sales on account $2060000
Cash sales 1103000
Decrease in accounts receivable 913000
Increase in accounts payable 112000
Increase in inventory 78000
Cost of goods sold 1580000
What is the amount of cash payments to suppliers reported by Coronado Industries for the year ended December 31, 2018?
$1614000
$1546000
$1770000
$1390000
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