The following information was summarized from the balance sheets included

The following information was summarized from the balance sheets included in the 2012 Form10-K of Kellogg Company and Subsidiaries at December 29, 2012, and General Mills, Inc., and Subsidiaries at May 27, 2012:

The following information was summarized from the balance sheets included

Required
1. Using the information provided, compute the following for each company at the end of 2012:
a. Current ratio
b. Quick ratio
2. Kellogg's reported net cash provided by operating activities of $1,758 million during 2012.General Mills reported net cash provided by operating activities of $2,402.0 million. Total current liabilities reported by Kellogg's at December 31, 2011, and General Mills at May 29,2011, were $3,313 million and $3,659.2 million, respectively. Compute the cash flow from operations to current liabilities ratio for each company for 2012.
3. Comment briefly on the liquidity of each of these two companies. Which appears to be more liquid?
4. What other ratios would help you more fully assess the liquidity of these companies?

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