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Stepp Entertainment Has the Following Selected Balance Sheet and Income  For the Year Ended  Income Statement Accounts December31,2012\begin{array}{ll} & \text { For the Year Ended } \\\text { Income Statement Accounts } & December 31,2012 \\\end{array}

Question 87

Essay

Stepp Entertainment has the following selected balance sheet and income statement information:

 For the Year Ended  Income Statement Accounts December31,2012\begin{array}{ll} & \text { For the Year Ended } \\\text { Income Statement Accounts } & December 31,2012 \\\end{array}
 Income Tax Expense $15,000 Cost of Goods Sold 164,000 Sales 523,000 Wage Expense 88,000\begin{array}{ll}\text { Income Tax Expense } &&&& \$ 15,000 \\\text { Cost of Goods Sold } &&&& 164,000 \\\text { Sales } &&&& 523,000 \\\text { Wage Expense } &&&& 88,000\end{array}  Balance Sheet Accounts  At December 31,2012 At December 31,2011  Accounts Payable $19,000$17,000 Cash 19,00012,000 Income Taxes layable 21,0009,000 Accounts Receivable 41,00036,000 Inventory 12,00023,000 Wages Iayable 5,00012,000\begin{array} { l c c } \text { Balance Sheet Accounts } & \text { At December } 31,2012 & \text { At December 31,2011 } \\ \text { Accounts Payable } & \$ 19,000 & \$ 17,000 \\\text { Cash } & 19,000 & 12,000 \\\text { Income Taxes layable } & 21,000 & 9,000 \\\text { Accounts Receivable } & 41,000 & 36,000 \\\text { Inventory } & 12,000 & 23,000 \\\text { Wages Iayable } & 5,000 & 12,000\end{array} Determine the following items for Stepp Entertainment for the year ended December 31,2012:
a.Cash received from customers
b.Cash paid to suppliers
c.Cash paid for wages
d.Cash paid for income taxes

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