Refer to the General Mills, Inc. information in M11-13. Assume the forecast of 2014 net sales is \(\$ 18,662.8\) million. Use the following financial statement relations to forecast General Mills' receivables, inventories, and accounts payable as of the end of May 2014.

Q11-13

General Mills, Inc. reports the following fiscal year income statements.

Forecast General Mills' fiscal year 2014 income statement assuming the following income statement relations (\$ in millions). All percentages (other than net sales growth, income taxes, and net earnings attributable to noncontrolling interests) are based on percent of sales.

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Year-end receivables/Net sales Year-end inventories/Net sales... Year-end accounts payable/Net sales 2014 8.1% 8.7% 8.0%