1. Determine free cash flows for General Mills in each of the three years reported. After-tax earnings from joint ventures Distributions of carnings from joint ventures Stock-based compensation Deferred income taxes Cash Flows - Operating Activities Net earnings, including carnings attributable to redeemable and noncontrolling interests Adjustments to reconcile net earnings to net cash provided by operating activities: Depreciation and amortization Pension and other postretirement benefit plan contributions Pension and other postretirement benefit plan costs Divestitures loss Net cash provided by operating activities Restructuring, impairment, and other exit costs Changes in current assets and liabilities, excluding the effects of acquisitions and divestitures Other, net Cash Flows - Investing Activities Purchases of land, buildings, and equipment Consolidated Statements of Cash Flows GENERAL MILLS, INC. AND SUBSIDIARIES (In Millions) Acquisition, net of cash acquired Investments in affiliates, net J Proceeds from disposal of land, buildings, and equipment Proceeds from divestitures Other, net Net cash used by investing activities Cash Flows - Financing Activities Change in notes payable Issuance of long-term debt Payment of long-term debt S 2020 2,210.8 S 594.7 (91.1) 76.5 94.9 (29.6) (31.1) (32.3) 43.6 793.9 45.9 3,676.2 (460.8) (48.0) 1.7 - 20.9 (486.2) (1,158.6) 1,638.1 (1.396.7) Fiscal Year 2019 1,786.2 S 620.1 (72.0) 86.7 84.9 93.5 (28.8) 6.1 30.0 235.7 (7.5) (27.9) 2,807.0 (537.6) 0.1 14.3 26.4 (59.7) (556.5) (66.3) 339.1 (1,493.8) 2018 2,163.0 618.8 (84.7) 113.2 77.0 (504.3) (31.8) 4.6 126.0 542.1 (182.9) 2,841.0 (622.7) (8,035.8) (17.3) 1.4 (11.0) (8,685.4) 327.5 6,550.0 (600.1)
Reporting Cash Flows
Reporting of cash flows means a statement of cash flow which is a financial statement. A cash flow statement is prepared by gathering all the data regarding inflows and outflows of a company. The cash flow statement includes cash inflows and outflows from various activities such as operating, financing, and investment. Reporting this statement is important because it is the main financial statement of the company.
Balance Sheet
A balance sheet is an integral part of the set of financial statements of an organization that reports the assets, liabilities, equity (shareholding) capital, other short and long-term debts, along with other related items. A balance sheet is one of the most critical measures of the financial performance and position of the company, and as the name suggests, the statement must balance the assets against the liabilities and equity. The assets are what the company owns, and the liabilities represent what the company owes. Equity represents the amount invested in the business, either by the promoters of the company or by external shareholders. The total assets must match total liabilities plus equity.
Financial Statements
Financial statements are written records of an organization which provide a true and real picture of business activities. It shows the financial position and the operating performance of the company. It is prepared at the end of every financial cycle. It includes three main components that are balance sheet, income statement and cash flow statement.
Owner's Capital
Before we begin to understand what Owner’s capital is and what Equity financing is to an organization, it is important to understand some basic accounting terminologies. A double-entry bookkeeping system Normal account balances are those which are expected to have either a debit balance or a credit balance, depending on the nature of the account. An asset account will have a debit balance as normal balance because an asset is a debit account. Similarly, a liability account will have the normal balance as a credit balance because it is amount owed, representing a credit account. Equity is also said to have a credit balance as its normal balance. However, sometimes the normal balances may be reversed, often due to incorrect journal or posting entries or other accounting/ clerical errors.
Fast answering please and Do Not Give Solution In Image Format And Please explain proper steps by Step


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