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Cash and Cash Equivalents $2,478.4 Net Cash from Operations 6,107.2 Sales 59,520,8 21,448.8 35,706.8 (3,461.2) 53,249.2 16,600.0 72,219.6 (2,860.4) 7,214.0 2,692.8 Stockholders' Equity Cost of Goods Sold Net Cash from Financing Total Liabilities Other Expenses Noncash Assets Net Cash from Investing Net Income Cash, beginning year Required a. Prepare an income statement, balance sheet, and statement of cash flows for General Mills, Inc.

Cash and Cash Equivalents $2,478.4 Net Cash from Operations 6,107.2 Sales 59,520,8 21,448.8 35,706.8 (3,461.2) 53,249.2 16,600.0 72,219.6 (2,860.4) 7,214.0 2,692.8 Stockholders' Equity Cost of Goods Sold Net Cash from Financing Total Liabilities Other Expenses Noncash Assets Net Cash from Investing Net Income Cash, beginning year Required a. Prepare an income statement, balance sheet, and statement of cash flows for General Mills, Inc.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Required a. Prepare an income statement, balance sheet, and statement of cash flows for General Mills, Inc. GENERAL MILLS, INC. INCOME STATEMENT For Year Ended May 29, 2011 ($ millions) Sales Cost of goods sold Gross profit Other Expenses Net income ($ millions) Cash and Cash Equivalents Noncash assets Total Assets ÷ + ÷ $ Net cash from investing Net cash from financing Net change in cash Cash, beginning year Cash, end of year % 59520.8 $ GENERAL MILLS, INC. BALANCE SHEET May 29, 2011 GENERAL MILLS, INC. STATEMENT OF CASH FLOWS For Year Ended May 29, 2011 ($ millions) Net cash from operations + $ ÷ ÷ + $ Total liabilities Stockholders' equity Total Liabilities and Equity + $ # $ $ b. What portion of the financing is contributed by owners? (Round your answer to one decimal place.)
Transcribed Image Text:Required a. Prepare an income statement, balance sheet, and statement of cash flows for General Mills, Inc. GENERAL MILLS, INC. INCOME STATEMENT For Year Ended May 29, 2011 ($ millions) Sales Cost of goods sold Gross profit Other Expenses Net income ($ millions) Cash and Cash Equivalents Noncash assets Total Assets ÷ + ÷ $ Net cash from investing Net cash from financing Net change in cash Cash, beginning year Cash, end of year % 59520.8 $ GENERAL MILLS, INC. BALANCE SHEET May 29, 2011 GENERAL MILLS, INC. STATEMENT OF CASH FLOWS For Year Ended May 29, 2011 ($ millions) Net cash from operations + $ ÷ ÷ + $ Total liabilities Stockholders' equity Total Liabilities and Equity + $ # $ $ b. What portion of the financing is contributed by owners? (Round your answer to one decimal place.)
Formulating Financial Statements from Raw Data Following is selected financial information from General Mills, Inc., for its fiscal year ended May 29, 2011 ($ millions): Cash and Cash Equivalents $2,478.4 Net Cash from Operations 6,107.2 Sales 59,520.8 Stockholders' Equity Cost of Goods Sold Net Cash from Financing Total Liabilities Other Expenses Noncash Assets Net Cash from Investing Net Income Cash, beginning year 21,448.8 35,706.8 (3,461.2) 53,249.2 16,600.0 72,219.6 (2,860.4) 7,214.0 2,692.8 Required a. Prepare an income statement, balance sheet, and statement of cash flows for General Mills, Inc. Sales GENERAL MILLS, INC. INCOME STATEMENT For Year Ended May 29, 2011 ($ millions) 59520.8
Transcribed Image Text:Formulating Financial Statements from Raw Data Following is selected financial information from General Mills, Inc., for its fiscal year ended May 29, 2011 ($ millions): Cash and Cash Equivalents $2,478.4 Net Cash from Operations 6,107.2 Sales 59,520.8 Stockholders' Equity Cost of Goods Sold Net Cash from Financing Total Liabilities Other Expenses Noncash Assets Net Cash from Investing Net Income Cash, beginning year 21,448.8 35,706.8 (3,461.2) 53,249.2 16,600.0 72,219.6 (2,860.4) 7,214.0 2,692.8 Required a. Prepare an income statement, balance sheet, and statement of cash flows for General Mills, Inc. Sales GENERAL MILLS, INC. INCOME STATEMENT For Year Ended May 29, 2011 ($ millions) 59520.8
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