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Exercise 12-12 Suppose the 2017 income statement for McDonald's Corporation shows cost of goods sold $4,986.0 milion and operating expenses (induding depreciation expense of $1,163.0
Exercise 12-12 Suppose the 2017 income statement for McDonald's Corporation shows cost of goods sold $4,986.0 milion and operating expenses (induding depreciation expense of $1,163.0 million) $10,465.0 million. The comparative balance sheets for the year shows that inventory decreased $5.6 million, prepaid expenses increased $43.8 million, accounts payable (merchandise suppliers) increased $16.6 million, and accrued expenses payable increased $196.0 million. Using the direct method, compute (a) cash payments to suppliers and (b) cash payments for operating expenses. (a) Cash payments to suppliers (b) Cash payments for operating expenses million million LINK TO TEXT
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