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Exercise 12-15 Your answer is partially correct. Try again. Suppose the 2022 income statement for McDonald's Corporation shows cost of goods sold $5,442.0 million and
Exercise 12-15 Your answer is partially correct. Try again. Suppose the 2022 income statement for McDonald's Corporation shows cost of goods sold $5,442.0 million and operating expenses (including depreciation expense of $1,268.0 million) $11,494.0 million. The comparative balance sheets for the year shows that inventory decreased $5.7 million, prepaid expenses increased $38.6 million, accounts payable (merchandise suppliers) increased $14.8 million, and accrued expenses payable increased $186.0 million. Using the direct method, compute (a) cash payments to suppliers and (b) cash payments for operating expenses. (a) Cash payments to suppliers 5,436.3 million (b) Cash payments for operating expenses 10,078.60 million Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT
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