Consider the following information reported by Fonterra Cooperative Group Limited for the year ended May 31, 2007;

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Consider the following information reported by Fonterra Cooperative Group Limited for the year ended May 31, 2007; all figures are in millions of New Zealand dollars ($). Fonterra is the largest dairy cooperative in New Zealand. Fonterra reported revenues of $13,882, cost of goods sold of $11,671, interest and other expenses of $2,113, and tax expense of $67. It also reported $13,894 in cash receipts from customers, $102 in miscellaneous cash receipts, $5,947 in cash payments to employees and creditors, $6,261 in cash payments for milk, $402 in cash payments for interest, and $64 in cash payments for taxes. Calculate Fonterra’s net income for 2007 and its net cash flow for 2007.

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Financial Accounting an introduction to concepts, methods and uses

ISBN: 978-0324789003

13th Edition

Authors: Clyde P. Stickney, Roman L. Weil, Katherine Schipper, Jennifer Francis

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