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Suppose the 2022 income statement for McDonald's Corporation shows cost of goods sold $4,693.0 million and operating expenses (including depreciation expense of $1,264.0 million)
Suppose the 2022 income statement for McDonald's Corporation shows cost of goods sold $4,693.0 million and operating expenses (including depreciation expense of $1,264.0 million) $10,622.0 million. The comparative balance sheets for the year shows that inventory decreased $5.0 million, prepaid expenses increased $44.0 million, accounts payable (merchandise suppliers) increased $14.5 million, and accrued expenses payable increased $195.0 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 A A million million
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