The following information was taken from the 2021 financial statements of Crane Company: Inventory, January 1, 2021 $ 170000 Inventory, December 31, 2021 230000 Accounts payable, January 1, 2021 140000 Accounts payable, December 31, 2021 230000 Sales revenue 1100000 Cost of goods sold 790000 If the direct method is used in the 2021 statement of cash flows, what amount should Crane report as cash payments to suppliers?

Principles of Accounting Volume 1
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ISBN:9781947172685
Author:OpenStax
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Chapter16: Statement Of Cash Flows
Section: Chapter Questions
Problem 6PA: Use the following information from Eiffel Companys financial statements to prepare the operating...
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The following information was taken from the 2021 financial statements of Crane Company:

Inventory, January 1, 2021 $ 170000
Inventory, December 31, 2021 230000
Accounts payable, January 1, 2021 140000
Accounts payable, December 31, 2021 230000
Sales revenue 1100000
Cost of goods sold 790000


If the direct method is used in the 2021 statement of cash flows, what amount should Crane report as cash payments to suppliers?

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