Formulating Financial Statements from Raw Data and Calculating Ratios Following is selected financial information from General Mills Inc. for its fiscal year ended May 27, 2018 ($ millions). Cost of goods sold (COGS) $12,375.5 Cash from operating activities $3,409.2 Cash from investing activities (10,422.5) Noncash assets, end of year 36,270.0 Cash, end of year 478.8 Cash from financing activities 6,572.8 Income tax expense 68.8 Total assets, beginning of year 26,175.1 Revenue 18,888.5 Total liabilities, end of year** 28,957.9 Total expenses, other than COGS 3,848.6 Stockholders' equity, end of year 7,790.9 and income tax * Cash from financing activities includes the effects of foreign exchange rate fluctuations. ** Total liabilities includes redeemable interest. a. Prepare the income statement for the year ended May 27, 2018. Note: Do not use negative signs with any of your answers. a. Prepare the income statement for the year ended May 27, 2018. Note: Do not use negative signs with any of your answers. General Mills Income Statement ($ millions) For the year ended May 27, 2018 Revenues 18,888.5 Cost of goods sold 12,375.5 Gross profit 0 Expenses 0 Net income 0 0 $ 0 > b. Prepare the balance sheet as of May 27, 2018. General Mills Balance Sheet($ millions) May 27, 2018 Cash $ O Liabilities Noncash assets O Stockholders' equity Total assets $ 0 Total liabilities and equity $ 0 > 0 . $ 0 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. General Mills Statement of Cash Flow (5 millions) For the year ended May 27, 2018 Cash from operating activities Cash from investing activities Cash from financing activities Net increase (decrease) in cash Cash beginning year Cash ending year $ 0 0 0 0 olo e $ d. Compute ROA. e. Compute profit margin (PM). f. Compute asset turnover (AT). Notes: Round ROA and PM to one decimal place (ex: 10.5%) Round Asset turnover to two decimal places (0.33) ROA 096 PM 0 % AT 0 Please answer all parts of the question. Check Previous Save Answers