General Mills Refer to the fi nancial statements and notes for General Mills included at the back of the book.

Required 1. What items does the company list in the Property and Equipment category?

2. What method is used to depreciate the operating assets?

3. What is the estimated useful life of the operating assets?

4. What are the accumulated depreciation and book values of property and equipment for the most recent fi scal year?

5. Were any assets purchased or sold during the most recent fi scal year? Explain.

AppendixLO1