Question: Waterway Industries prepares its statement of cash flows using the direct method for operating activities. For the year ended December 31, 2018, Waterway Industries reports the following activity:
Sales on account $2090000
Cash sales 1117000
Decrease in accounts receivable 912000
Increase in accounts payable 107000
Increase in inventory 74000
Cost of goods sold 1579000
What is the amount of cash collections from customers reported by Waterway Industries for the year ended December 31, 2018?
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