Question
Suppose the 2022 income statement for McDonald's Corporation shows cost of goods sold $4,800.0 million and operating expenses (including depreciation expense of $1,200.0 million) $10,600.0
Suppose the 2022 income statement for McDonald's Corporation shows cost of goods sold $4,800.0 million and operating expenses (including depreciation expense of $1,200.0 million) $10,600.0 million. The comparative balance sheets for the year show that inventory decreased $5.0 million, prepaid expenses increased $42.0 million, accounts payable (inventory suppliers) increased $15.0 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. (Enter answers in millions to 1 decimal place, e.g. 527.5.)
Cash payments to suppliers $ million
Cash payments for operating expenses $ million
Suppose the 2022 income statement for McDonald's Corporation shows cost of goods sold $4,800.0 million and operating expenses (including depreciation expense of $1,200.0 million) $10,600.0 million. The comparative balance sheets for the year show that inventory decreased $5.0 million, prepaid expenses increased $42.0 million, accounts payable (inventory suppliers) increased $15.0 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. (Enter answers in millions to 1 decimal place, e.g. 527.5.) Cash payments to suppliers $ million Cash payments for operating expenses $ millionStep by Step Solution
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