Formulating Financial Statements from Raw Data and Calculating Ratios

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) Cash from investing activities Cash, end of year $13,406.8 Cash from operating activities (11,291.0) Noncash assets, end of year 518.7 Cash from financing activities* 74.5 Total assets, beginning of year 20,462.5 Total liabilities, end of year** 4,169.4 Stockholders' equity, end of year $3,693.3 39,292.5 7,120.5 28,356.4 Income tax expense Revenue 31,371.1 8,440.1 Total expenses, other than COGS and income tax * Cash from financing activities includes the effects of foreign exchange rate fluctuations. ** Total liabilities includes redeemable interest. c. Prepare the statement of cash flows for the year ended May 27, 2018. Note: Use a negative sign with your answer to indicate cash was used by activities and/or a decrease in cash. General Mills Statement of Cash Flow ($ millions) For the year ended May 27, 2018 Cash from operating activities $ 3,693.3 Cash from investing activities (11,291) Cash from financing activities 7,120.5 Net increase (decrease) in cash (477.2) Cash beginning year 0 Cash ending year $ 0 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 0 % PM 0 % AT 0