Analyzing, interpreting and capitalizing operating leases yum! brands, inc., reports the following footnote relating to its capital and operating leases in its 2015 10-k report ($ millions). future minimum commitments under noncancelable leases are set forth below. at december 26, 2015, the present value of minimum payments under capital leases was $169 million. commitments ($ millions) capital operating 2016 $20 $672 2017 20 620 2018 20 569 2019 20 516 2020 19 457 thereafter 188 2,123 $287 $4,957 (a) confirm that the implicit rate on yum! 's capital leases is 7.634%.

Prepare the operating activities section—indirect method.(lo 4), apthe income statement of paxson company is presented here.paxson companyincome statementfor the year ended november 30, 2014sales revenue $7,600,000cost of goods sold beginning inventory$1,900,000 purchases4,400,000goods available for sale6,300,000 ending inventory1,600,000total cost of goods sold 4,700,000gross profit 2,900,000operating expenses selling expenses450,000 administrative expenses700,0001,150,000net income $1,750,000additional information: prepare the operating activities section—indirect 1. accounts receivable decreased $380,000 during the year, and inventory decreased $300,000.2. prepaid expenses increased $150,000 during the year.3. accounts payable to suppliers of merchandise decreased $350,000 during the year.4. accrued expenses payable decreased $100,000 during the year.5. administrative expenses include depreciation expense of $110,000.instructionsprepare the operating activities section of the statement of cash flows for the year ended november 30, 2014, for paxson company, using the indirect method.net cash provided $1,940,000