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Posted on Jul 03, 2024

please do the balance sheet. Analyzing, Forecasting, and Interpreting Both Income Statement and Balance Sheet Following are the income statements and balance sheets of General

please do the balance sheet. image text in transcribed

Analyzing, Forecasting, and Interpreting Both Income Statement and Balance Sheet Following are the income statements and balance sheets of General Mills, Inc. Income Statement Fiscal Years Ended ($ millions) Net Sales Cost of sales Selling general and administrative expenses Divestitures (gain). net Restructuring, impairment and other exit costs Operating income Interest, net Earnings before income tax expense and equity in income of affiliates Income tax expense After-tax earnings from joint ventures Net earnings including noncontrolling interests Net earnings attributable to noncontrolling interests Net earnings attributable to General Mills May 29, 2011 May 30, 2010 $ 14,880.2 $14,635.6 8.926.7 8.835.4 3.192.0 3.162.7 (17.4) 31.4 2.774.5 2.606.1 346.3 401.6 2,428.2 2,204.5 721.1 771.2 101.7 1.803.5 1.535.0 5.2 $ 1.793.3 $ 1.530.5 Balance Sheet ($ millions) May 29, 2011 May 30, 2010 Assets $ 619.6 1,162.3 1,6093 273 483.5 3,902.0 3,345.9 6,750.8 3,813,3 862.5 5 18,674.5 $6732 1,041.6 1.344.0 42.7 378.5 3.480.0 3.127.7 6,592.8 3.715.0 763.4 $17.678.9 Cash and cash equivalents Receivables Inventories Deferred income taxes Prepaid expenses and other current assets Total current assets Land, buildings and equipment Goodwill Other intangible assets Other assets Total assets Liabilities and Equity Accounts payable Current portion of long-term debt Notes payable Other current liabilities Total current liabilities Long-term debt Deferred income taxes Other liabilities Total liabilities Stockholders equi Common stock. 154. 6 shares issued. $0.0 per value $995.1 1,031.3 311.3 1.321.5 $ 849.5 1073 1.050.1 1,762.2 3.769.1 5.268.5 874.6 3.659.2 5.542.5 1.127.2 1.733.2 12.062.3 12.030.9 1,7332 12,0623 2,118.7 12.030.9 75.5 Other liabilities Total liabilities are Stockholders' equity Common stock. 754.6 shares issued, $0.10 par value Additional paid-in capital Retained earnings Common stock in treasury, at cost shares of 109.8 and 98.1 Accumulated other comprehensive loss Total shareholders' equity Noncontrolling interests Total equity Total Liabilities and Equity 75.5 1,319.8 9,1913 (3.210.3) (1,010.8) 6.365.5 246.7 6,612.2 $ 18,674.5 1,307,1 8,122.4 (2.6152) (1.486-9) 5,402.9 245.1 5,648.0 $17.678.9 Forecast General Mill's fiscal 2012 income statement using the following relatio 5.096 60.096 21.596 Net sales growth Cost of sales/Net sales Selling general and administrative expenses/Net sales Divestitures (gain). net Restructuring impairment and other exit costs Interest, net Income tax expense/Pretax income After-tax earnings from joint ventures Net earnings attributable to noncontrolling interests/Ner earnings before attribution $346.3 29.796 596.4 0.396 Round answers to one decimal place. Do not use negative signs with your answers. Forecast General Mill's fiscal 2012 balance sheet using the following relations (assume"no change for accounts not listed). Assume that all capital expenditures are purchases of land, building and equipment, net. (5 millions). 7.86 10.8% 0.296 3.296 50 amortization 5.896 Receivables/Net sales Inventories/Net sales Deferred income tax/Net sales Prepaid expenses and other current assets/Net sales Other intangible assets Other Assets/Net sales Accounts payable/Net sales Other current liabilities/Net sales Current portion of long-term debt Deferred Income taxes/Net sales Other liabilities/Net sales Noncontrolling interests Capital expenditures/Net sales Depreciation/Prior year net PPE Dividends/Net income Current maturities of long-term debt in fiscal 2013 increase by net income attributable to noncontrolling interes 20.696 $733.6 Round answers to one decimal place. Do not negative signs with your answers. 2012 Estimated Balance Sheet ($ millions) Assets Cash and cash equivalents Receivables Inventories Deferred income taxes Prepaid expenses and other Total current assets Land, buildings, and equipment Goodwill Other intangible assets Other assets Total assets Liabilities and equity Accounts payable Current portion of long-term debt Notes payable Other current liabilities Total current liabilities Total long-term debt Deferred income taxes ooooooooooo ooooooo Sus nesku A Return to co COM Liabilities and equity Accounts payable Current portion of long-term debt Notes payable Other current liabilities Total current liabilities Total long-term debt Deferred income taxes Other liabilities Total liabilities Stockholders equity Common stock Additional paid-in capital Retained earnings Common stock in treasury Accumulated other comprehensiveloss Total shareholders' equity Noncontrolling interests Total equity Total liabilities and equity ooooo... ooooooooo Check Analyzing, Forecasting, and Interpreting Both Income Statement and Balance Sheet Following are the income statements and balance sheets of General Mills, Inc. Income Statement Fiscal Years Ended ($ millions) Net Sales Cost of sales Selling general and administrative expenses Divestitures (gain). net Restructuring, impairment and other exit costs Operating income Interest, net Earnings before income tax expense and equity in income of affiliates Income tax expense After-tax earnings from joint ventures Net earnings including noncontrolling interests Net earnings attributable to noncontrolling interests Net earnings attributable to General Mills May 29, 2011 May 30, 2010 $ 14,880.2 $14,635.6 8.926.7 8.835.4 3.192.0 3.162.7 (17.4) 31.4 2.774.5 2.606.1 346.3 401.6 2,428.2 2,204.5 721.1 771.2 101.7 1.803.5 1.535.0 5.2 $ 1.793.3 $ 1.530.5 Balance Sheet ($ millions) May 29, 2011 May 30, 2010 Assets $ 619.6 1,162.3 1,6093 273 483.5 3,902.0 3,345.9 6,750.8 3,813,3 862.5 5 18,674.5 $6732 1,041.6 1.344.0 42.7 378.5 3.480.0 3.127.7 6,592.8 3.715.0 763.4 $17.678.9 Cash and cash equivalents Receivables Inventories Deferred income taxes Prepaid expenses and other current assets Total current assets Land, buildings and equipment Goodwill Other intangible assets Other assets Total assets Liabilities and Equity Accounts payable Current portion of long-term debt Notes payable Other current liabilities Total current liabilities Long-term debt Deferred income taxes Other liabilities Total liabilities Stockholders equi Common stock. 154. 6 shares issued. $0.0 per value $995.1 1,031.3 311.3 1.321.5 $ 849.5 1073 1.050.1 1,762.2 3.769.1 5.268.5 874.6 3.659.2 5.542.5 1.127.2 1.733.2 12.062.3 12.030.9 1,7332 12,0623 2,118.7 12.030.9 75.5 Other liabilities Total liabilities are Stockholders' equity Common stock. 754.6 shares issued, $0.10 par value Additional paid-in capital Retained earnings Common stock in treasury, at cost shares of 109.8 and 98.1 Accumulated other comprehensive loss Total shareholders' equity Noncontrolling interests Total equity Total Liabilities and Equity 75.5 1,319.8 9,1913 (3.210.3) (1,010.8) 6.365.5 246.7 6,612.2 $ 18,674.5 1,307,1 8,122.4 (2.6152) (1.486-9) 5,402.9 245.1 5,648.0 $17.678.9 Forecast General Mill's fiscal 2012 income statement using the following relatio 5.096 60.096 21.596 Net sales growth Cost of sales/Net sales Selling general and administrative expenses/Net sales Divestitures (gain). net Restructuring impairment and other exit costs Interest, net Income tax expense/Pretax income After-tax earnings from joint ventures Net earnings attributable to noncontrolling interests/Ner earnings before attribution $346.3 29.796 596.4 0.396 Round answers to one decimal place. Do not use negative signs with your answers. Forecast General Mill's fiscal 2012 balance sheet using the following relations (assume"no change for accounts not listed). Assume that all capital expenditures are purchases of land, building and equipment, net. (5 millions). 7.86 10.8% 0.296 3.296 50 amortization 5.896 Receivables/Net sales Inventories/Net sales Deferred income tax/Net sales Prepaid expenses and other current assets/Net sales Other intangible assets Other Assets/Net sales Accounts payable/Net sales Other current liabilities/Net sales Current portion of long-term debt Deferred Income taxes/Net sales Other liabilities/Net sales Noncontrolling interests Capital expenditures/Net sales Depreciation/Prior year net PPE Dividends/Net income Current maturities of long-term debt in fiscal 2013 increase by net income attributable to noncontrolling interes 20.696 $733.6 Round answers to one decimal place. Do not negative signs with your answers. 2012 Estimated Balance Sheet ($ millions) Assets Cash and cash equivalents Receivables Inventories Deferred income taxes Prepaid expenses and other Total current assets Land, buildings, and equipment Goodwill Other intangible assets Other assets Total assets Liabilities and equity Accounts payable Current portion of long-term debt Notes payable Other current liabilities Total current liabilities Total long-term debt Deferred income taxes ooooooooooo ooooooo Sus nesku A Return to co COM Liabilities and equity Accounts payable Current portion of long-term debt Notes payable Other current liabilities Total current liabilities Total long-term debt Deferred income taxes Other liabilities Total liabilities Stockholders equity Common stock Additional paid-in capital Retained earnings Common stock in treasury Accumulated other comprehensiveloss Total shareholders' equity Noncontrolling interests Total equity Total liabilities and equity ooooo... ooooooooo Check