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Formulating Financial Statements from Raw Data Assume the following is selected financial information from General Mills, Inc., for its fiscal year ended May 25, 2014
Formulating Financial Statements from Raw Data Assume the following is selected financial information from General Mills, Inc., for its fiscal year ended May 25, 2014 ($ millions): Cash and Cash Equivalents $2,478.4 Net Cash from Operations 6,136.4 Sales 59,520.8 Stockholders' Equity 21,448.8 Cost of Goods Sold 35,706.8 Net Cash from Financing (3,461.2) Total Liabilities 53,249.2 Other Expenses, including income taxes 16,600.0 Noncash Assets 72,219.6 Net Cash from Investing (2,860.4) Net Income 7,214.0 Effect of exchange rate changes on cash (29.2) Cash, beginning year 2,692.8 Required a. Prepare an income statement, balance sheet, and statement of cash flows for General Mills, Inc. Use negative signs with your answers for the statement of cash flows, when appropriate. GENERAL MILLS, INC. INCOME STATEMENT ($ millions) Sales Other Expenses, including income taxes GENERAL MILLS, INC. BALANCE SHEET ($ millions) 0 Cash and Cash Equivalents $ Total Assets Total Liabilities and Equity $ 0 GENERAL MILLS, INC. STATEMENT OF CASH FLOWS ($ millions) o o Effect of exchange rates on cash Net change in cash Cash, ending year b. What portion of the financing is contributed by owners? (Round your answer to one decimal place.) 0 % Check
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