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Erie Company Reports the Following Comparative Balance Sheets and Income

Question 13

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Erie Company reports the following comparative balance sheets and income statement information for the current year.
Comparative Balance Sheets
12/31/2015 12/31/2016
Erie Company reports the following comparative balance sheets and income statement information for the current year. Comparative Balance Sheets 12/31/2015 12/31/2016 -Assuming accounts payable is used for inventory purchases only,what was the amount of cash paid for inventory purchases during the year? A) $32,000 B) $176,000 C) $192,000 D) $160,000 Erie Company reports the following comparative balance sheets and income statement information for the current year. Comparative Balance Sheets 12/31/2015 12/31/2016 -Assuming accounts payable is used for inventory purchases only,what was the amount of cash paid for inventory purchases during the year? A) $32,000 B) $176,000 C) $192,000 D) $160,000
-Assuming accounts payable is used for inventory purchases only,what was the amount of cash paid for inventory purchases during the year?


A) $32,000
B) $176,000
C) $192,000
D) $160,000

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