Suppose a recent income statement for McDonald's Corporation shows cost of goods sold $4,861.1 million...
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Accounting
Suppose a recent income statement for McDonald's Corporation shows cost of goods sold $4,861.1 million and operating expenses (including depreciation expense of $1,239 million) $10,630.9 million. The comparative balance sheet for the year shows that inventory increased $17.2 million, prepaid expenses increased $57.5 million, accounts payable (merchandise suppliers) increased $135.2 million, and accrued expenses payable increased $163.3 million. Using the direct method, compute (a) cash payments to suppliers and (b) cash payments for operating expenses. (Round answers to 1 decimal place, e.g. 527.5.) Cash payments to suppliers million $ $ Cash payments for operating expenses million
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