Question: Question 3 Find the error and earn an extra 5 points. Following is selected financial information from General Parts, Inc., for its fiscal year ended

 Question 3 Find the error and earn an extra 5 points.

Question 3 Find the error and earn an extra 5 points. Following is selected financial information from General Parts, Inc., for its fiscal year ended May 30, 2018 ($ millions). Show all work and label all answers for partial credit. Revenue $11,470 Cash from operating activities 1,455 Cash, beginning 703 Stockholders' Equity 5,947 Noncash assets 17,697 Cash from financing activities (937) Cost of goods sold 6,584 Total other expenses 3,431 Cash, ending 751 Total liabilities 12,901 Cash from investing activities (470) *Cash from financing activities includes the effects of foreign exchange rate fluctuations. (a) Prepare the income statement, the balance sheet, and the statement of cash flows for General Mills for the fiscal year ended May 2018. (b) Does the negative amount for cash from financing activities concern us? Explain. (c) Using the statements prepared for part a. compute the following ratios (for this part only, use the year-end balance instead of the average for assets and stockholders' equity). Round all answers to two decimal places. For example, asset turnover is rounded like this: 0.34567 = 0.35; all other percentage ratios are rounded like this: 0.12345 = 12.35%. Profit Margin Asset Turnover Return on Assets Return on Equity

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