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E13-12 A recent income statement for McDonald’s Corporation

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A recent income statement for McDonald’s Corporation shows cost of goods sold
$4,527.8 million and operating expenses (including depreciation expense of $1,120 million)
$10,517.6 million. The comparative balance sheet for the year shows that inventory increased
$17.1 million, prepaid expenses increased $65.3 million, accounts payable (merchandise suppliers)
increased $139.6 million, and accrued expenses payable increased $190.6 million.

Instructions
Using the direct method, compute (a) cash payments to suppliers and (b) cash payments
for operating expenses.

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