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Suppose the 2022 income statement for McDonald's Corporation shows cost of goods sold $5,254.0 million and operating expenses (including depreciation expense of $1,149.0 million) $10,232.0
Suppose the 2022 income statement for McDonald's Corporation shows cost of goods sold $5,254.0 million and operating expenses (including depreciation expense of $1,149.0 million) $10,232.0 million. The comparative balance sheets for the year shows that inventory decreased $5.1 million, prepaid expenses increased $45.5 million, accounts payable (merchandise suppliers) increased $17.1 million, and accrued expenses payable increased $189.0 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 1 million
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