Following is selected financial information from General Mills Inc. for its fiscal year ended May 27,...
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Following is selected financial information from General Mills Inc. for its fiscal year ended May 27, 2018 ($ millions). Cost of goods sold (COGS) $11.344.2 Cash from operating activities (9.553.9) Noncash assets, end of year Cash from investing activities Cash, end of year 438.9 Cash from financing activities* Income tax expense Revenue Total expenses, other than COGS and income tax $3,125.1 33.247.5 6,025.0 63.0 Total assets, beginning of year 23,993.9 17,314.4 Total liabilities, end of year** 26,544.8 3.527.9 Stockholders' equity, end of year 7.141.6 * Cash from financing activities includes the effects of foreign exchange rate fluctuations. ** Total liabilities includes redeemable interest. a. Prepare the income statement for the year ended May 27, 2018. Note: Do not use negative signs with any of your answers. b. Prepare the balance sheet as of May 27, 2018. c. Prepare the statement of cash flows for the year ended May 27, 2018. Note: Use a negative sign with your answer to indicate cash was used by activities and/or a decrease in cash. d. Compute ROA. e. Compute profit margin (PM). f. Compute asset turnover (AT). Following is selected financial information from General Mills Inc. for its fiscal year ended May 27, 2018 ($ millions). Cost of goods sold (COGS) $11.344.2 Cash from operating activities (9.553.9) Noncash assets, end of year Cash from investing activities Cash, end of year 438.9 Cash from financing activities* Income tax expense Revenue Total expenses, other than COGS and income tax $3,125.1 33.247.5 6,025.0 63.0 Total assets, beginning of year 23,993.9 17,314.4 Total liabilities, end of year** 26,544.8 3.527.9 Stockholders' equity, end of year 7.141.6 * Cash from financing activities includes the effects of foreign exchange rate fluctuations. ** Total liabilities includes redeemable interest. a. Prepare the income statement for the year ended May 27, 2018. Note: Do not use negative signs with any of your answers. b. Prepare the balance sheet as of May 27, 2018. c. Prepare the statement of cash flows for the year ended May 27, 2018. Note: Use a negative sign with your answer to indicate cash was used by activities and/or a decrease in cash. d. Compute ROA. e. Compute profit margin (PM). f. Compute asset turnover (AT).
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Answer rating: 100% (QA)
a Income Statement for the year ended May 27 2018 Revenue 173144 Cost of Goods Sold COGS 113442 Tota... View the full answer
Related Book For
Introductory Financial Accounting for Business
ISBN: 978-1260299441
1st edition
Authors: Thomas Edmonds, Christopher Edmonds
Posted Date:
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