General Mills, Inc., reports the following information in cash flow statement for the year ended May 27,2018:
Question:
General Mills, Inc., reports the following information in cash flow statement for the year ended May 27,2018:
a. General Mills reported net income of $2,163,0 million in the year ended May 2018. What effect did these financing cash flows have on General Mills solvency measures for the year? Explain.
b. Would the changes in financing tend to lower or increase the firm's debt rating? (Currently General Mills' long-term debt is rated at upper medium grade.)
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a Unless there has been a decline in the General Mills operating liabilities the DebttoEqu...View the full answer
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Related Book For 
Financial Accounting
ISBN: 9781618533111
6th Edition
Authors: Michelle L. Hanlon, Robert P. Magee, Glenn M. Pfeiffer, Thomas R. Dyckman
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