Income Statement Data (for 20X2) 10,000 Sales Loss on sale of PPE 100 Cost of Goods Sold 6,000 General Expense 2,000 Depreciation Expense 330 Income Tax Expense 700 Total Expenses 9,130870 Net Income Additional Information:1. Equipment with a book value of $300 was sold during 20X2.3. Equipment costing $160 was purchased with a mortgage during 20X2. This fact is already reflected in the balance sheet numbers reported above. All other purchases of Equipment in 20X2 were cash transactions.2. All accounts payable relate to inventory purchases.4. Compute the amount of Cash Paid for Inventory Purchases in 20X2.