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Consider the following balance sheet and income statement for Mmm Good Foods Incorporated (the company that operates Tasty Fried Chicken and Pizza Party), in
Consider the following balance sheet and income statement for Mmm Good Foods Incorporated (the company that operates Tasty Fried Chicken and Pizza Party), in condensed form, including some information from the cash flow statement: (amounts are in millions) Balance Sheet Cash and short-term Investments Accounts receivable Inventory Other current assets Long-lived assets Total assets Current liabilities Total liabilities Noncontrolling interest Shareholders' equity Total liabilities and equity Income Statement Mmm Good Foods Incorporated 2019 $ 722 388 54 462 4,104 $ 5,730 $ 1,459 11,170 (5,440) $ 5,730 $ 6,546 3,588 $ 2,958 Sales Cost of sales Gross margin Earnings before interest and taxes $ 1,643 Interest Taxes 325 342 Income from discontinued operations 607 Net income $ 1,583 Share price $ 81
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