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8. The following are from the financial statements for General Mills (in millions): At the end of fiscal year 2010, 656.5 million shares were outstanding,

image text in transcribed 8. The following are from the financial statements for General Mills (in millions): At the end of fiscal year 2010, 656.5 million shares were outstanding, and they traded at $60 each. The sales will increase by 10% in each year from 2011 to 2014 . Prepare a proforma for the years 2011 - 2014 with a forecast that core profit margins and asset turnovers will be the same as in 2010. Then calculate the per-share value at the end of fiscal year 2010 with the forecast that residual operating income will grow after 2014 at the sales growth rate. Use a required return for operations of 8 percent

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