Suppose a recent income statement for McDonald’s Corporation shows cost of goods sold $6,065.9 million and operating expenses (including depreciation expense of $1,501 million) $13,339.4 million. The comparative balance sheet for the year shows that inventory increased $22.6 million, prepaid expenses increased $70.4 million, accounts payable (merchandise suppliers) increased $171.1 million, and accrued expenses payable increased $201.1 million
Using the direct method compute cash payments to suppliers. (Round answer to 1 decimal place, e.g. 1,589.5.)
Cash payment to suppliers-------In Millions
Using the direct method compute cash payments for operating expenses
Cash payments for operating expenses------ In millions