Formulating Financial Statements from Raw Data Following is selected financial information from General Mills, Inc., for its fiscal year ended May 31, 2020 ($ millions). Cash and cash equivalents, end of year. Net cash from operations.. Net sales. . . Stockholders' equity, end of year Cost of goods sold Net cash from financing. Total liabilities, end of year. Other expenses, including income taxes Noncash assets, end of year. . Net cash from investing Net income.. Effect of exchange rate changes on cash Cash and cash equivalents, beginning of year. ..... .... pg. 1-35 $ 1,677.8 3,676.2 17,626.6 8,894.1 11,496.7 (1,941.5) 21,912.6 3,919.1 29,128.9 (486.2) 2,210.8 (20.7) 450.0
Formulating Financial Statements from Raw Data Following is selected financial information from General Mills, Inc., for its fiscal year ended May 31, 2020 ($ millions). Cash and cash equivalents, end of year. Net cash from operations.. Net sales. . . Stockholders' equity, end of year Cost of goods sold Net cash from financing. Total liabilities, end of year. Other expenses, including income taxes Noncash assets, end of year. . Net cash from investing Net income.. Effect of exchange rate changes on cash Cash and cash equivalents, beginning of year. ..... .... pg. 1-35 $ 1,677.8 3,676.2 17,626.6 8,894.1 11,496.7 (1,941.5) 21,912.6 3,919.1 29,128.9 (486.2) 2,210.8 (20.7) 450.0
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Formulating Financial Statements from Raw Data
Following is selected financial information from General Mills, Inc., for its fiscal year ended May 31,
2020 ($ millions).
Cash and cash equivalents, end of year.
Net cash from operations.
Net sales. ...
Stockholders' equity, end of year.
Cost of goods sold . .
Net cash from financing . .
Total liabilities, end of year.
Other expenses, including income taxes.
Noncash assets, end of year.
Net cash from investing
Net income...
Effect of exchange rate changes on cash
Cash and cash equivalents, beginning of year.
pg. 1-35
$ 1,677.8
3,676.2
17,626.6
8,894.1
11,496.7
(1,941.5)
21,912.6
3,919.1
29,128.9
(486.2)
2,210.8
(20.7)
450.0
Transcribed Image Text:REQUIRED
a. Prepare an income statement, balance sheet, and statement of cash flows for General Mills, Inc.
b. What portion of the financing is contributed by owners?
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