Question: Formulating Financial Statements from Raw Data Assume the following is selected financial information from General Mills, Inc., for its fiscal year ended May 25, 2014

 Formulating Financial Statements from Raw Data Assume the following is selected

Formulating Financial Statements from Raw Data Assume the following is selected financial information from General Mills, Inc., for its fiscal year ended May 25, 2014 ($ millions): Cash and Cash Equivalents $9.913.6 Net Cash from Operations 24,458 Sales 238,083.2 Stockholders' Equity 64.795.2 Cost of Goods Sold 142,827.2 Net Cash from Financing (13,844.8) Total Liabilities 233,996.8 Other Expenses, including income taxes 66,400.0 Noncash Assets 288,878.4 Net Cash from Investing (11,441.6) Net Income 28,856.0 Effect of exchange rate changes on cash (29.2) Cash, beginning year 10,771.2 Required a. Prepare an income statement, balance sheet, and statement of cash flows for General Mills, Inc. Note: Use negative signs with your answers for the statement of cash flows, when appropriate. GENERAL MILLS, INC. INCOME STATEMENT For Year Ended May 25, 2014 ($ millions) Sales $ Other Expenses, including income taxes GENERAL MILLS, INC. BALANCE SHEET May 25, 2014 ($ millions) Cash and Cash Equivalents $ $ $ Total Assets $ Total Liabilities and Equity $ GENERAL MILLS, INC. STATEMENT OF CASH FLOWS

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!