Question 10 Incomplete answer Marked out of 39.00 Flag question 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) $11,344.2 Cash from operating activities $3,125.1 Cash from investing activities (9,553.9) Noncash assets, end of year 33,247.5 Cash, end of year 438.9 Cash from financing activities* 6,025.0 Income tax expense Revenue 63.0 Total assets, beginning of year 23,993.9 17,314.4 Total liabilities, end of year** 26,544.8 Total expenses, other than COGS and income tax 3,527.9 Stockholders' equity, end of year 7,141.6 * Cash from financing activities includes the effects of foreign exchange rate fluctuations. **Total liabilities includes redeemable interest. a. Prepare the income statement for the year ended May 27, 2018. Note: Do not use negative signs with any of your answers. General Mills Income Statement ($ millions) For the year ended May 27, 2018 Revenues Cost of goods sold $ 17,314.4 11,344.2 0 0 Income before taxes 2,442.3 Income tax expense = 63 Net income $ 31,163.6