Given is data for General Mills Inc. for its fiscal year ended May 27, 2018 ($ millions). Cost of goods sold (COGS) = $14,438.1 Cash from operating activities = $3,977.4 Cash from investing activities = (12,159.6) Noncash assets, end of year = 42,315.0 Cash, end of year = 558.6 Cash from financing activities = 7,668.2 Income tax expense = 80.2 Total assets, beginning of year = 30,537.6 Revenue = 22,036.6 Total liabilities, end of year = 33,784.2 Total expenses, other than COGS = 4,490 Stockholders' equity, end of year = 9,089.4 Prepare Income statement, Cash flow statement and Balance sheet for the year 2008. Do not use negative sign, use brackets.
Given is data for General Mills Inc. for its fiscal year ended May 27, 2018 ($ millions).
Cost of goods sold (COGS) = $14,438.1
Cash from operating activities = $3,977.4
Cash from investing activities = (12,159.6)
Noncash assets, end of year = 42,315.0
Cash, end of year = 558.6
Cash from financing activities = 7,668.2
Income tax expense = 80.2
Total assets, beginning of year = 30,537.6
Revenue = 22,036.6
Total liabilities, end of year = 33,784.2
Total expenses, other than COGS = 4,490
Prepare Income statement, Cash flow statement and
Note : Answers for tally-
For the year ended May 27, 2018 Answer Revenues Answer 22,036.6 Answer Cost of goods sold Answer 14,438.1 Answer Gross profit Answer 7,958.5 Answer Expenses Answer 4,490.1 Answer Net income Answer 3,108.4 Answer Total assets Answer 0 Answer Total liabilities and equity Answer 0 b. Prepare the balance sheet as of May 27, 2018. General Mills Balance Sheet ($ millions) May 27, 2018 Answer Cash Answer 558.6 Answer Total liabilities and equity Answer 33,794.2 Answer Noncash assets Answer 42,315 Answer Stockholders' equity Answer 9,089.4 Answer Total assets Answer 42,873.6 Answer Total liabilities and equity Answer 42,873.6 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 ($ millions) For the year ended May 27, 2018 Answer Cash from operating activities Answer 3,977.4 Cash from investing activities Answer 12,159.6 Cash from financing activities Answer 7,668.2 Answer Net increase (decrease) in cash Answer 514 Answer Cash beginning year Answer 1,072.6 Answer Cash ending year Answer 558.6
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