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Using the fiscal year end 2020 annual report for General Mills, Inc. and the figures from the 2020 annual report as noted below, calculate the financial ratios for 2020 and 2019 indicated using the EXCEL template provided: 1. The average collection period  2.Days sales in inventory 3. debt to equity ratio 4.  Times interest earned 5.  Operating cash flow to Capital expenditures ratio 6. Earnings per share 7. Price earnings ratio 8.  Dividend yield 9. Dividend payout ratio 10.  Total assets 2020 = $30,806.7 Total stockholders’ equity 2020 = $8,349.5 Total current liabilities 2020 = $7,491.5 Accounts receivable 2020 = $1,615.1 Inventory 2020 = $1,426.3 Year-end closing stock price May 2020 = $58.80 Year-end closing stock price May 2019 = $53.56

Using the fiscal year end 2020 annual report for General Mills, Inc. and the figures from the 2020 annual report as noted below, calculate the financial ratios for 2020 and 2019 indicated using the EXCEL template provided: 1. The average collection period  2.Days sales in inventory 3. debt to equity ratio 4.  Times interest earned 5.  Operating cash flow to Capital expenditures ratio 6. Earnings per share 7. Price earnings ratio 8.  Dividend yield 9. Dividend payout ratio 10.  Total assets 2020 = $30,806.7 Total stockholders’ equity 2020 = $8,349.5 Total current liabilities 2020 = $7,491.5 Accounts receivable 2020 = $1,615.1 Inventory 2020 = $1,426.3 Year-end closing stock price May 2020 = $58.80 Year-end closing stock price May 2019 = $53.56

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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Using the fiscal year end 2020 annual report for General Mills, Inc. and the figures from the
2020 annual report as noted below, calculate the financial ratios for 2020 and 2019 indicated
using the EXCEL template provided:
1. The average collection period 

2.Days sales in inventory

3. debt to equity ratio

4.  Times interest earned

5.  Operating cash flow to Capital expenditures ratio

6. Earnings per share

7. Price earnings ratio

8.  Dividend yield

9. Dividend payout ratio

10. 

Total assets 2020 = $30,806.7
Total stockholders’ equity 2020 = $8,349.5
Total current liabilities 2020 = $7,491.5
Accounts receivable 2020 = $1,615.1
Inventory 2020 = $1,426.3
Year-end closing stock price May 2020 = $58.80
Year-end closing stock price May 2019 = $53.56

 
The following table sets forth selected financial data for each of the fiscal years in the five-year period ended May 26, 2019: Flscal Year In MIlllons, Except Per Share Data, Percentages and Ratlos 2019 (a) 2018 2017 2016 2015 (b) Operating data: Net sales Gross margin (c) (d) Selling, general, and administrative expenses (d) Operating profit (d) Net earnings attributable to General Mills Advertising and media expense Research and development expense Average shares outstanding: Diluted Earnings per share: Diluted Adjusted diluted (c) (c) Operating ratlos: Gross margin as a percentage of net sales (d) Selling, general, and administrative expenses as a percentage of net sales (d) Operating profit as a percentage of net sales (d) Adjusted operating profit as a percentage of net sales (c) (d) (e) Effective income tax rate S 16,865.2 5,756.8 S 15,740.4 S 15,619.8 5,435.6 S 16,563.1 $ 17,630.3 5,843.3 5,567.8 5,967.8 2,935.8 2,515.9 1,752.7 601.6 221.9 2,850.1 2,419.9 2,131.0 575.9 219.1 2,888.8 2,492.1 1,657.5 623.8 218.2 3,141.4 2,719.1 1,697.4 754.4 222.1 3,389.9 2,071.8 1,221.3 823.1 229.4 605.4 585.7 598.0 611.9 618.8 |S 2.77 3.64 S 3.11 S 1.97 2.86 2.90 2.77 3.22 3.08 S 2.92 34.1% 34.5% 35.6% 35.3% 33.8% 17.4% 18.1% 18.5% 19.0% 19.2% 14.9% 15.4% 16.0% 16.4% 11.8% 16.9% 17.7% 16.6% 2.7% 17.6% 28.8% 16.8% 31.4% 15.7% 33.3% Balance sheet data: Land, buildings, and equipment Total assets Long-term debt, excluding current portion Total debt (c) 3,787.2 30,111.2 4,047.2 30,624.0 3,687.7 21,812.6 3.743.6 21,712.3 3,783.3 21,832.0 11,624.8 14,490.0 12,668.7 15,818.6 7.642.9 9,481.7 7,057.7 8,430.9 7,575.3 9,191.5 Cash flow data: Net cash provided by operating activities (f) Capital expenditures 2,807.0 537.6 2,841.0 622.7 2,415.2 684.4 S. 2,764.2 729.3 2,648.5 712.4 Free cash flow (c) Share data: Cash dividends per common share 2,269.4 2,218.3 1,730.8 2,034.9 1,936.1 1.96 1.96 S 1.92 1.78 1.67 (a) In fiscal 2018, we acquired Blue Buffalo. Please see Note 3 to the Consolidated Financial Statements in Item 8 of this report. (b) Fiscal 2015 was a 53-week year; all other fiscal years were 52 weeks. (c) Please see "Glossary" in Item 8 of this report for definition. (d) In the first quarter of fiscal 2019, we retrospectively adopted new accounting requirements related to the presentation of net periodic defined benefit pension expense, net periodic postretirement benefit expense, and net periodic postemployment benefit expense. Please see Note 2 to the Consolidated Financial Statements in Item 8 of this report. (e) Please see "Non-GAAP Measures" in Item 7 of this report for our discussion of this measure not defined by generally accepted accounting %24 %24
Transcribed Image Text:The following table sets forth selected financial data for each of the fiscal years in the five-year period ended May 26, 2019: Flscal Year In MIlllons, Except Per Share Data, Percentages and Ratlos 2019 (a) 2018 2017 2016 2015 (b) Operating data: Net sales Gross margin (c) (d) Selling, general, and administrative expenses (d) Operating profit (d) Net earnings attributable to General Mills Advertising and media expense Research and development expense Average shares outstanding: Diluted Earnings per share: Diluted Adjusted diluted (c) (c) Operating ratlos: Gross margin as a percentage of net sales (d) Selling, general, and administrative expenses as a percentage of net sales (d) Operating profit as a percentage of net sales (d) Adjusted operating profit as a percentage of net sales (c) (d) (e) Effective income tax rate S 16,865.2 5,756.8 S 15,740.4 S 15,619.8 5,435.6 S 16,563.1 $ 17,630.3 5,843.3 5,567.8 5,967.8 2,935.8 2,515.9 1,752.7 601.6 221.9 2,850.1 2,419.9 2,131.0 575.9 219.1 2,888.8 2,492.1 1,657.5 623.8 218.2 3,141.4 2,719.1 1,697.4 754.4 222.1 3,389.9 2,071.8 1,221.3 823.1 229.4 605.4 585.7 598.0 611.9 618.8 |S 2.77 3.64 S 3.11 S 1.97 2.86 2.90 2.77 3.22 3.08 S 2.92 34.1% 34.5% 35.6% 35.3% 33.8% 17.4% 18.1% 18.5% 19.0% 19.2% 14.9% 15.4% 16.0% 16.4% 11.8% 16.9% 17.7% 16.6% 2.7% 17.6% 28.8% 16.8% 31.4% 15.7% 33.3% Balance sheet data: Land, buildings, and equipment Total assets Long-term debt, excluding current portion Total debt (c) 3,787.2 30,111.2 4,047.2 30,624.0 3,687.7 21,812.6 3.743.6 21,712.3 3,783.3 21,832.0 11,624.8 14,490.0 12,668.7 15,818.6 7.642.9 9,481.7 7,057.7 8,430.9 7,575.3 9,191.5 Cash flow data: Net cash provided by operating activities (f) Capital expenditures 2,807.0 537.6 2,841.0 622.7 2,415.2 684.4 S. 2,764.2 729.3 2,648.5 712.4 Free cash flow (c) Share data: Cash dividends per common share 2,269.4 2,218.3 1,730.8 2,034.9 1,936.1 1.96 1.96 S 1.92 1.78 1.67 (a) In fiscal 2018, we acquired Blue Buffalo. Please see Note 3 to the Consolidated Financial Statements in Item 8 of this report. (b) Fiscal 2015 was a 53-week year; all other fiscal years were 52 weeks. (c) Please see "Glossary" in Item 8 of this report for definition. (d) In the first quarter of fiscal 2019, we retrospectively adopted new accounting requirements related to the presentation of net periodic defined benefit pension expense, net periodic postretirement benefit expense, and net periodic postemployment benefit expense. Please see Note 2 to the Consolidated Financial Statements in Item 8 of this report. (e) Please see "Non-GAAP Measures" in Item 7 of this report for our discussion of this measure not defined by generally accepted accounting %24 %24
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