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Following is selected financial information from General Mills Inc, for its fiscal year ended May 27, 2018 ($ millions). Cost of goods sold (COGS) $10,312.9

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Following is selected financial information from General Mills Inc, for its fiscal year ended May 27, 2018 ($ millions). Cost of goods sold (COGS) $10,312.9 Cash from operating activities $2,841.0 Cash from investing activities (8,685.4) Noncash assets, end of year 30,225.0 Cash, end of year 399.0 Cash from financing activities* 5,477.3 Income tax expense 57.3 Total assets, beginning of year 21,812.6 Revenue 15,740.4 Total liabilities, end of year** 24,131.6 Total expenses, other than COGS 3,207.2 Stockholders' equity, end of year 6,492.4 and income tax * Cash from financing activities includes the effects of foreign exchange rate fluctuations. ** Total liabilities includes redeemable interest. a. Prepare the income statement for the year ended May 27, 2018. Note: Do not use negative signs with any of your answers. General Mills Income Statement(s millions) Note: Do not use negative signs with any of your answers. General Mills Income Statement ($ millions) For the year ended May 27, 2018 Revenues $ 15,740.4 Cost of goods sold (10,312.9) Gross profit 5,427.5 Expenses X (3,207.2) * Income before taxes 2,220.3 Income tax expense (57.3) X Net income 2,163 $ b. Prepare the balance sheet as of May 27, 2018. General Mills Balance Sheet ($ millions) May 27, 2018 Total liabilities and equity * *$ 24,131.6 * Cash ending year Stockholders' equity X 6,492.9 x Total assets Cash X$ 30,624 Cash XS X 399 X 30,225 x 30,624 X$ d. Compute ROA. e. Compute profit margin (PM). f. Compute asset turnover (AT). Notes: Round ROA and PM to one decimal place (ex: 10.5%) Round Asset turnover to two decimal places (0.33) 8.47% X PM 13.74% x 0.6 ROA AT

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