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 $9,281.6 Cash from operating activities (7,816.9) Noncash assets, end of year 359.1 Cash from financing activities 51.6 Total assets, beginning of year $2,556.9 27,202.5 4.929.6 Cash, end of year Income tax expense 19,631.3 Revenue 14,166.4 Total liabilities, end of year** 21.718.4 Total expenses, other than COGS 2.886.5 Stockholders' equity, end of year 5,843.2 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 (5 millions) For the year ended May 27, 2018 05 0 0 0 : : S b. Prepare the balance sheet as of May 27, 2018. General Mills Balance Sheet (5 millions) May 27, 2018 $ # # S S 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 hu activitiae and/or 0 : 5 4 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 (5 millions) For the year ended May 27, 2018 #S Cash from investing activities Cash from financing activities 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 PM 46 AT 4 Save Answers Check Previous