d. Compute ROA. e. Compute profit margin (PM). f. Compute asset turnover (AT).
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Following is selected financial information from General Mills Inc. for its fiscal year ended May 27, 2018 ($ millions).
Cost of goods sold (COGS) | $11,344.2 | Cash from operating activities | $3,125.1 |
Cash from investing activities | (9,553.9) | Noncash assets, end of year | 33,247.5 |
Cash, end of year | 438.9 | Cash from financing activities* | 6,025.0 |
Income tax expense | 63.0 | Total assets, beginning of year | 23,993.9 |
Revenue | 17,314.4 | Total liabilities, end of year** | 26,544.8 |
Total expenses, other than COGS | 3,527.9 | Stockholders' equity, end of year | 7,141.6 |
and income tax |
* Cash from financing activities includes the effects of foreign exchange rate fluctuations.
** Total liabilities includes redeemable interest.
d. Compute ROA.
e. Compute profit margin (PM).
f. Compute asset turnover (AT).
Notes:
Round ROA and PM to one decimal place (ex: 10.5%)
Round Asset turnover to two decimal places (0.33)
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