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Suppose the 2022 income statement for McDonald's Corporation shows cost of goods sold $4,883.5 million and operating expenses (including depreciation expense of $1,266.0 million)
Suppose the 2022 income statement for McDonald's Corporation shows cost of goods sold $4,883.5 million and operating expenses (including depreciation expense of $1,266.0 million) $10,606.0 million. The comparative balance sheets for the year show that inventory decreased $7.9 million, prepaid expenses increased $43.4 million, accounts payable (inventory 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. (Enter answers in millions to 1 decimal place, e.g. 527.5.) Cash payments to suppliers Cash payments for operating expenses A million +A $ million
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