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Laser Solutions' inventory decreases during the year by $8 million and its accounts payable to suppliers increases by $5 million during the same period. What is the amount of cash paid to suppliers of merchandise during the reporting period if its cost of goods sold is $80 million? (Input your answer as a positive value. Enter your answer in millions.)

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Answer:

The answer is $67 million

Explanation:

Cash paid to suppliers is a sub total under operating activities for cash flow. It is to the total amount paid to suppliers of goods and services on credit.

Cash paid to suppliers:

Cost of goods sold: $80 million

Substract:

Decrease in inventory $8 million

Increase in paybles. $5 million

Cash paid to suppliers $67 million.