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Formulating Financial Statements from Raw Data and Calculating Ratios Following is selected financial information from General Mills Inc. for its fiscal year ended May

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Formulating Financial Statements from Raw Data and Calculating Ratios Following is selected financial information from General Mills Inc. for its fiscal year ended May 27, 2018 ($ millions). Cost of goods sold (COGS) Cash from investing activities Cash, end of year $8,250.3 Cash from operating activities (6,948.3) Noncash assets, end of year $2,272.8 24,180.0 319.2 Cash from financing activities* 45.8 Total assets, beginning of year 12,592.3 Total liabilities, end of year** 4,381.8 17,450.1 Income tax expense Revenue 19,305.3 Total expenses, other than COGS 2,565.8 Stockholders' equity, end of year 5,193.9 and income tax * Cash from financing activities includes the effects of foreign exchange rate fluctuations. ** Total liabilities includes redeemable interest. a. Prepare the income statement for the year ended May 27, 2018. Note: Do not use negative signs with any of your answers. General Mills Income Statement ($ millions) For the year ended May 27, 2018 = $ = $ b. Prepare the balance sheet as of May 27, 2018. General Mills Balance Sheet ($ millions) May 27, 2018 $ 0 $ 0 0 $ 0 0 $ = 0 c. Prepare the statement of cash flows for the year ended May 27, 2018. Note: Use a negative sign with your answer to indicate cash was used by activities and/or a decrease in cash. General Mills Statement of Cash Flow ($ millions) For the year ended May 27, 2018 $ 0 Cash from investing activities 0 Cash from financing activities 0 0 = 0 $ 0 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) ROA 0% PM 0% AT 0

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