Following is selected financial information from General Mills Inc. for its fiscal year ended May 27, 2018 ($ millions). Cost of goods sold (COGS)$11,344.2Cash from operating activities$3,125.1Cash from investing activities(9,553.9)Noncash assets, end of year33,247.5Cash, end of year438.9Cash from financing activities*6,025.0Income tax expense63.0Total assets, beginning of year23,993.9Revenue17,314.4Total liabilities, end of year**26,544.8Total expenses, other than COGS3,527.9Stockholders' equity, end of year7,141.6and 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)

ROA i.e Return on Assets = Net income/Average Total Asset Profit Margin = Net income/Sales Asset…

Answered: d. Compute ROA. e. Compute profit…

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

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