Formulating Financial Statements from Raw Data and Calculating Ratios Following is selected financial information from JM Smucker Co. for the year ended April 30, 2018 ($ millions). Current assets, end of year $1,710.5 Long-term liabilities, end of year $7,013.9 Cash, end of year 211.9 Stockholders' equity, end of year 8,680.2 Cash from investing activities (305.4) Cash from operating activities 1,339.8 Cost of products sold 4,973.1 Total assets, beginning of year 17,203.7 Total liabilities, end of year 8,151.1 Revenue 8,092.8 Cash from financing activities* (1,006.1) Total expenses, other than cost of 1,647.3 Stockholders' equity, beginning of year 7,535.2 product sold Dividends paid 385.3 * Cash from financing activities includes the effects of foreign exchange rate fluctuations. a. Prepare the income statement for the year ended April 30, 2018. Note: Do not use negative signs with any of your answers. J M Smucker Co Income Statement ($ millions) For the year ended April 30, 2018 Revenues Answer 8092.8 Cost of product sold Answer 4973.1 Gross profit Answer 3119.7 Expenses Answer Net income Answer b. Prepare the balance sheet as of April 30, 2018. J M Smucker Co Balance Sheet ($ millions) April 30, 2018 Current assets Answer Current liabilities Answer Long-term assets Answer Long-term liabilities Answer Total liabilities Answer - Stockholders' equity Answer Total assets Answer Total liabilities and equity Answer c. Prepare the statement of cash flows for the year ended April 30, 2018. Note: Use a negative sign with your answer to indicate cash was used by activities and/or a decrease in cash. J M Smucker Co Statement of Cash Flow ($ millions) For the year ended April 30, 2018 Cash from operating activities Answer Cash from investing activities Answer Cash from financing activities Answer Net increase (decrease) in cash Answer Cash, beginning of year Answer Cash, end of year Answer d. Compute ROA. e. Compute profit margin (PM). f. Compute asset turnover (AT). g. Compute ROE. Notes: Round ROA, PM, and ROE to one decimal place (ex: 10.5%). Round AT (asset turnover) to two decimal places (0.33). ROA Answer PM Answer AT Answer ROE Answer