Question - Alex Company prepares its statement of cash flows using the direct method for operating activities. For the year ended December 31, 2015, Alex Company reports the following activity:
Sales on account $1,400,000
Cash sales 740,000
Decrease in accounts receivable 610,000
Increase in accounts payable 72,000
Increase in inventory 48,000
Cost of goods sold 1,050,000
What is the amount of cash payments to suppliers reported by Alex Company for the year ended December 31, 2015?