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cash payments to suppliers and cash payments for operating expenses Suppose a recent income statement for McDonald's Corporation (USA) shows cost of goods sold $4,527.8
cash payments to suppliers and cash payments for operating expenses
Suppose a recent income statement forMcDonald's Corporation(USA) shows cost of goods sold $4,527.8 million and operating expenses (including depreciation expense of $1,120 million) $10,517.6 million. The comparative statements of financial position for the year show that inventory increased $17.1 million, prepaid expenses increased $65.3 million, accounts payable (merchandise suppliers) increased $139.6 million, and accrued expenses payable increased $190.6 million.
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