Refer to the General Mills, Inc, financial information from Exercise 11-22. Forecast General Mills' fiscal 2014 statement
Question:
Refer to the General Mills, Inc, financial information from Exercise 11-22. Forecast General Mills' fiscal 2014 statement of cash flows. (Use net earnings, including earnings attributable to redeemable and noncontrolling interests to begin the statement of cash flows.)
Q11-22
Following are the income statements and balance sheets of General Mills, Inc.
a. Forecast General Mills' fiscal 2014 income statement and balance sheet using the following relations. Assume all capital expenditures are purchases of land, buildings and equipment, net, and that depreciation and amortization expense is included as part of selling, general and administrative expense (\$ millions).
b. What does the forecasted adjustment to balance the accounting equation from part a reveal to us about the forecasted financing needs of the company? Explain.
Step by Step Answer:
Financial And Managerial Accounting For MBAs
ISBN: 9781618533593
6th Edition
Authors: Peter D. Easton