Formulating Financial Statements from Raw Data and Calculating RatiosFollowing is selected financial information from JM Smucker Co. for a recent fiscal year ($ millions). Current assets, end of year $2,010.1 Noncurrent liabilities, end of year $5,962.1 Cash, end of year 169.9 Stockholders' equity, end of year 8,140.1 Cash for investing activities (355.5) Cash from operating activities 1,136.3 Cost of product sold 5,298.2 Total assets, beginning of year 16,284.2 Total liabilities, end of year 7,914.9 Revenue 7,998.9 Cash for financing activities (945.2) Total expenses, other than cost of product sold 2,069.0 Stockholders' equity, beginning of year 8,124.8 Dividends paid (418.1) Requireda. Prepare the income statement for the year. J.M. Smucker Company, Inc. Income Statement ($ millions) Answer 1 Answer 2 Answer 3 Answer 4 Answer 5 Answer 6 Answer 7 Answer 8 Answer 9 Answer 10 b. Prepare the balance sheet at the end of the year. J.M. Smucker Company, Inc. Balance Sheet ($ millions) Answer 11 Answer 12 Answer 13 Answer 14 Answer 15 Answer 16 Answer 17 Answer 18 Answer 19 Answer 20 Answer 21 Answer 22 Answer 23 Answer 24 Answer 25 Answer 26 Answer 27 Answer 28 Answer 29 Answer 30 c. Prepare the statement of cash flows for the year. Note: Use negative signs with answers to indicate a decrease in cash. J.M. Smucker Company, Inc. Statement of Cash Flow ($ millions) Answer 31 Answer 32 Answer 33 Answer 34 Answer 35 Answer 36 d. Compute the following ratios. Note: Enter answers using one decimal place. Numerator Denominator Result Return on assets (ROA) Answer 37 Answer 38 Profit margin (PM Answer 39 Answer 40 Asset turnover (AT) Answer 41 Answer 42 Return on equity Answer 43 Answer 44

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 13E: Ratio of liabilities to stockholders equity and times interest earned The following data were taken...

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Question

Formulating Financial Statements from Raw Data and Calculating Ratios

Following is selected financial information from JM Smucker Co. for a recent fiscal year ($ millions).

Current assets, end of year	$2,010.1	Noncurrent liabilities, end of year	$5,962.1
Cash, end of year	169.9	Stockholders' equity, end of year	8,140.1
Cash for investing activities	(355.5)	Cash from operating activities	1,136.3
Cost of product sold	5,298.2	Total assets, beginning of year	16,284.2
Total liabilities, end of year	7,914.9	Revenue	7,998.9
Cash for financing activities	(945.2)	Total expenses, other than cost of product sold	2,069.0
Stockholders' equity, beginning of year	8,124.8	Dividends paid	(418.1)

Required

a. Prepare the income statement for the year.

J.M. Smucker Company, Inc.
Income Statement ($ millions)
Answer 1	Answer 2
Answer 3	Answer 4
Answer 5	Answer 6
Answer 7	Answer 8
Answer 9	Answer 10

b. Prepare the balance sheet at the end of the year.

J.M. Smucker Company, Inc.
Balance Sheet ($ millions)
Answer 11	Answer 12	Answer 13	Answer 14
Answer 15	Answer 16	Answer 17	Answer 18
Answer 19	Answer 20	Answer 21	Answer 22
Answer 23	Answer 24	Answer 25	Answer 26
Answer 27	Answer 28	Answer 29	Answer 30