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	$1,555.0	Long-term liabilities, end of year	$6,376.3
Cash, end of year	192.6	Stockholders' equity, end of year	7,891.1
Cash from investing activities	(277.6)	Cash from operating activities	1,218.0
Cost of products sold	4,521.0	Total assets, beginning of year	15,639.7
Total liabilities, end of year	7,410.1	Revenue	7,357.1
Cash from financing activities*	(914.6)	Total expenses, other than cost of	1,497.5
Stockholders' equity, beginning of year	6,850.2	product sold
		Dividends paid	350.3

* 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	Answer
Cost of product sold	Answer
Gross profit	Answer
Expenses	Answer
Net income	Answer

b. Prepare the balance sheet as of April 30, 2018.

J M Smucker Co
Balance Sheet ($ millions)
April 30, 2018
Current assets	Answer	Current liabilities	Answer
Long-term assets	Answer	Long-term liabilities	Answer
		Total liabilities	Answer
	-	Stockholders' equity	Answer
Total assets	Answer	Total liabilities and equity	Answer

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	Answer
Cash from investing activities	Answer
Cash from financing activities	Answer
Net increase (decrease) in cash	Answer
Cash, beginning of year	Answer
Cash, end of year	Answer