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Assume the following is selected financial information from General Mills, Inc., for its fiscal year ended May 25, 2014 ($ millions): Cash and Cash Equivalents
Assume the following is selected financial information from General Mills, Inc., for its fiscal year ended May 25, 2014 ($ millions):
Cash and Cash Equivalents | $1,239.2 |
Net Cash from Operations | 3,082.8 |
Sales | 29,760.4 |
Stockholders' Equity | 11,224.4 |
Cost of Goods Sold | 17,853.4 |
Net Cash from Financing | (1,730.6) |
Total Liabilities | 26,124.6 |
Other Expenses, including income taxes | 8,300.0 |
Noncash Assets | 36,109.8 |
Net Cash from Investing | (1,430.2) |
Net Income | 3,607.0 |
Effect of exchange rate changes on cash | (29.2) |
Cash, beginning year | 1,346.4 |
Required a. Prepare an income statement, balance sheet, and statement of cash flows for General Mills, Inc.
Note: Use negative signs with your answers for the statement of cash flows, when appropriate.
GENERAL MILLS, INC. INCOME STATEMENT For Year Ended May 25, 2014 | |
---|---|
($ millions) | |
Sales | |
Net cash from operationsStockholders' equityCash, beginning yearGross profitNet cash from financingNoncash assetsTotal liabilitiesNet cash from investingNet incomeCost of goods sold | |
Net cash from operationsStockholders' equityCash, beginning yearGross profitNet cash from financingNoncash assetsTotal liabilitiesNet cash from investingNet incomeCost of goods sold | |
Other Expenses, including income taxes | |
Net cash from operationsStockholders' equityCash, beginning yearGross profitNet cash from financingNoncash assetsTotal liabilitiesNet cash from investingNet incomeCost of goods sold |
GENERAL MILLS, INC. BALANCE SHEET May 25, 2014 | |||
---|---|---|---|
($ millions) | |||
Cash and Cash Equivalents | Net cash from operationsStockholders' equityCash, beginning yearGross profitNet cash from financingNoncash assetsTotal liabilitiesNet cash from investingNet incomeCost of goods sold | ||
Net cash from operationsStockholders' equityCash, beginning yearGross profitNet cash from financingNoncash assetsTotal liabilitiesNet cash from investingNet incomeCost of goods sold | Net cash from operationsStockholders' equityCash, beginning yearGross profitNet cash from financingNoncash assetsTotal liabilitiesNet cash from investingNet incomeCost of goods sold | ||
Total Assets | Total Liabilities and Equity |
GENERAL MILLS, INC. STATEMENT OF CASH FLOWS For Year Ended May 25, 2014 | |
---|---|
($ millions) | |
Net cash flows from operationsStockholders' equityCash, beginning yearGross profitNet cash flows from financingNoncash assetsTotal liabilitiesNet cash flows from investingNet incomeCost of goods sold | |
Net cash flows from operationsStockholders' equityCash, beginning yearGross profitNet cash flows from financingNoncash assetsTotal liabilitiesNet cash flows from investingNet incomeCost of goods sold | |
Net cash flows from operationsStockholders' equityCash, beginning yearGross profitNet cash flows from financingNoncash assetsTotal liabilitiesNet cash flows from investingNet incomeCost of goods sold | |
Effect of exchange rates on cash | |
Net change in cash | |
Net cash flows from operationsStockholders' equityCash, beginning yearGross profitNet cash flowsfrom financingNoncash assetsTotal liabilitiesNet cash flows from investingNet incomeCost of goods sold | |
Cash, ending year |
b. What portion of the financing is contributed by owners? (Round your answer to one decimal place.) Answer%
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