(Learning Objectives 4, 5, 6: Computing amounts for the statement of cash flows—direct method)…

(Learning Objectives 4, 5, 6: Computing amounts for the statement of cash flows—direct method) Compute the following items for the statement of cash flows: a. Beginning and ending Accounts Receivable are €22,000 and €17,000, respectively. Credit sales for the period total €62,000. How much are cash collections from customers? b. Cost of goods sold is €79,000. Beginning Inventory balance is €28,000, and ending Inventory balance is €25,000. Beginning and ending Accounts Payable are €12,000 and €14,000, respectively. How much are cash payments for inventory?