Formulating Financial Statements from Raw Data and Calculating Ratios Following is selected financial information from JM Smucker
Question:
Formulating Financial Statements from Raw Data and Calculating Ratios
Following is selected financial information from JM Smucker Co. for the year ended April 30, 2018 ($ millions).
Current assets, end of year | $1,399.5 | Long-term liabilities, end of year | $5,738.7 |
Cash, end of year | 173.3 | Stockholders' equity, end of year | 7,102.0 |
Cash from investing activities | (249.8) | Cash from operating activities | 1,096.2 |
Cost of products sold | 4,068.9 | Total assets, beginning of year | 14,075.7 |
Total liabilities, end of year | 6,669.1 | Revenue | 6,621.4 |
Cash from financing activities* | (823.1) | Total expenses, other than cost of | 1,347.8 |
Stockholders' equity, beginning of year | 6,165.2 | product sold | |
Dividends paid | 315.3 |
* Cash from financing activities includes the effects of foreign exchange rate fluctuations.
a. Prepare the income statement for the year ended April 30, 2018.
Note: Do not use negative signs with any of your answers.
J M Smucker Co | |
---|---|
Income Statement ($ millions) | |
For the year ended April 30, 2018 | |
Revenues | |
Cost of product sold | |
Gross profit | |
Expenses | |
Net income |
b. Prepare the balance sheet as of April 30, 2018.
J M Smucker Co | |||
---|---|---|---|
Balance Sheet ($ millions) | |||
April 30, 2018 | |||
Current assets | Current liabilities | ||
Long-term assets | Long-term liabilities | ||
Total liabilities | |||
- | Stockholders' equity | ||
Total assets | Total liabilities and equity |
c. Prepare the statement of cash flows for the year ended April 30, 2018. Note: Use a negative sign with your answer to indicate cash was used by activities and/or a decrease in cash.
J M Smucker Co | |
---|---|
Statement of Cash Flow ($ millions) | |
For the year ended April 30, 2018 | |
Cash from operating activities | |
Cash from investing activities | |
Cash from financing activities | |
Net increase (decrease) in cash | |
Cash, beginning of year | |
Cash, end of year |
d. Compute ROA. e. Compute profit margin (PM). f. Compute asset turnover (AT). g. Compute ROE.
Notes: Round ROA, PM, and ROE to one decimal place (ex: 10.5%). Round AT (asset turnover) to two decimal places (0.33).
ROA | |
PM | |
AT | |
ROE |