Question: please help with parts D, E, F Formulating Financial Statements from Raw Data and Calculating Ratios Following is selected financial information from General Mills Inc.


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 (COG) $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, General Mills Income Statement (5 millions) For the year ended May 27, 2018 Revenues $ 18888.5 Cost of goods sold 12375.5 Gross profit 6513 Expenses 3848.6 Income before taxes 2664,4 Income tax expense 68.8 Net income 2595.6 $ b. Prepare the balance sheet as of May 27, 2018. General Mills Balance Sheet($ millions) May 27, 2018 Cash 478.8 Liabilities Noncash assets 36270 Stockholders' equity Total assets +5 36748.8 Total liabilities and equity $ $ e 28957.9 7790.9 36748.8 $ 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 - $ 3409.2 Cash from investing activities -104225 Cash from financing activities 6572.8 Net increase (decrease in cash -440.5 Cash beginning year 919.3 Cash ending year $ 478,8 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 $ 3409.2 Cash from investing activities -10422.5 Cash from financing activities 6572.8 Net increase (decrease) in cash 440.5 Cash beginning year 919.3 Cash ending year $ 478.8 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 PM 96 % AT
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