=+1. Using the preceding data, adjust the operating income for CVS and Walgreen to an adjusted cash
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=+1. Using the preceding data, adjust the operating income for CVS and Walgreen to an adjusted cash basis. For 2006, the operating income for CVS was $1,368,900 and for Walgreens it was $1,750,600 (in thousands). {Hint: To convert to a cash basis, you need to compute the change in each accrual accounting item shown and then either add or subtract the change to the operating income.)
Accrual Accounting Concepts 121
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