Question
The income statement for Sandhill's Corporation shows cost of goods sold $6,000.0 million and operating expenses (including depreciation expense of $2,900.0 million) $20,000.0 million. The
The income statement for Sandhill's Corporation shows cost of goods sold $6,000.0 million and operating expenses (including depreciation expense of $2,900.0 million) $20,000.0 million. The comparative balance sheet for the year shows that inventory increased $16.8 million, prepaid expenses increased $112.8 million, accounts payable (merchandise suppliers) decreased $45.3million, and accrued expenses payable increased $169.9 million.
(a)
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Using the direct method compute cash payments to suppliers. (Enter answer in millions, e.g. 2,125.1 million)
Cash payments to suppliers | $Enter cash payments to suppliers in millions rounded to 1 decimal place million |
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(b)
Using the direct method compute cash payments for operating expenses. (Enter answer in millions, e.g. 2,125.1 million)
Cash payments for operating expenses | $Enter cash payments for operating expenses in millions rounded to 1 decimal place million |
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