QUESTIONS 45 THROUGH 68 RELATE TO FINANCIAL STATEMENT ANALYSIS

53. Konvexity Institute, a financial training company, reported cost of goods sold for the year as $300,000. Total assets and total inventory increased by $150,000 and $50,000 respectively. Total liabilities increased by $100,000 and accounts payable remained unchanged. How much cash did the company pay to its suppliers during the year? A. $350,000 B. $300,000 C. $250,000