Question: Need help to fixe my wrong answers which information did you need? The information from Gereral Mills Inc for its fiscal year is given in


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) $11.344.2 Cash from operating activities $3,125.1 Cash from investing activities (9.553.9) Noncash assets, end of year 33.247.5 Cash, end of year 438.9 Cash from financing activities 6,025.0 Income tax expense 63.0 Total assets, beginning of year 23,993.9 Revenue 17,314.4 Total liabilities, end of year** 26,544.8 Total expenses, other than COGS 3,527.9 Stockholders' equity, end of year 7.141.6 and income tax * Cash from financing activities includes the effects of foreign exchange rate fluctuations. ** Total liabilities includes redeemable interest. a. Prepare the income statement for the year ended May 27, Note: Do not use negative signs with any of your answers. General Mills Income Statement ($ millions) For the year ended May 27, 2018 Revenues $ 17,314.4 Cost of goods sold 11,344.2 Gross profit 5.970.2 Expenses 3.527.9 Income before taxes 2,442.3 Income tax expense 63 Net income 2.379.3 b. Prepare the balance sheet as of May 27, 2018 Busine cure Return to course b. Prepare the balance sheet as of May 27, 2018. General Mills Balance Sheet ($ millions) May 27, 2018 Stockholders' equity X $ 71,416 x Noncash assets Liabilities X 26,544.8 x Cash ending year Total liabilities and equity X$ 33,686.4 Total assets X$ 33,247.5 X 438.9 X X X$ 33,686.4 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 3,125.1 Cash from investing activities 6.025 X Cash from financing activities (9.553.9) X Cash beginning year (103.8) X Cash ending year 438.9 X Net increase (decrease) in cash 335.1 x d. Compute ROA. e. Compute profit margin (PM). f. Compute asset turnover (AT). Business course Return to course General Mills Statement of Cash Flow ($ millions) For the year ended May 27, 2018 Cash from operating activities - $ 3,125.1 Cash from investing activities 6,025 x Cash from financing activities (9,553.9) X Cash beginning year (103.8) X Cash ending year 438.9 X Net increase (decrease) in cash * $ 335.1 x 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 PM 8.5 96 x 1496 x 0.6 AT
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