Suppose the 2022 income statement for McDonald’s Corporation shows cost of goods sold $4,804.8 million and operating expenses (including depreciation expense of $1,232.0 million) $10,624.2 million. The comparative balance sheets for the year show that inventory decreased $6.5 million, prepaid expenses increased $44.5 million, accounts payable (inventory suppliers) increased $17.3 million, and accrued expenses payable increased $198.9 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		$enter a dollar amount in millions	million
Cash payments for operating expenses		$enter a dollar amount in millions	million

Answer rating: 100% (QA)

Answer a Cash payment to supplier b Cash payment for operating expense 92378 milli... View the full answer