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Suppose the 2017 income statement for McDonald's Corporation shows cost of goods sold $5, 422.0 million and operating expenses (including depreciation expense of $1, 099.0
Suppose the 2017 income statement for McDonald's Corporation shows cost of goods sold $5, 422.0 million and operating expenses (including depreciation expense of $1, 099.0 million) $10, 011.0 million. The comparative balance sheets for the year shows that inventory decreased $5.0 million, prepaid expenses increased $41.2 million, accounts payable (merchandise suppliers) increased $15.8 million, and accrued expenses payable increased $185.0 million. Using the direct method, compute (a) Cash payments to suppliers and (b) Cash payments for operating expenses. (a) Cash payments to suppliers $ million (b) Cash payments for operating expenses $ million
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