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) $10,312.9
Cash from operating activities $2,841.0
Non-cash assets, end of year 30,225.0
Cash from financing activities 5,477.3
Total assets, beginning of year 21,812.6
Total liabilities, end of year 24,131.6
Stockholders’ equity, end of year 6,492.4
Cash from investing activities (8,685.4)
Cash, end of year 399.0
Income tax expense 57.3
Revenue 15,740.4
Total expenses, ot her than COGS
and income tax 3,207.2
Cash from financing activities includes the effects of foreign exchange rate fluctuations.
A. Prepare the income statement for the year ended May 27, 2018.
B. Prepare the balance sheet as of May 27, 2018.
C. Prepare the statement of cash flows for the year ended May 27, 2018.
D. Compute ROA.
E. Compute profit margin (PM).
F. Compute asset turnover (AT).