I need help on this. First here is the information on General Mill's balance sheet (let me know if you need more information). Balance sheets In millions, except per value Assets May 28, 2017 May 29, 2016 Current assets: Cash and cash equivalents $766.1 $763.7 Receivables 1,430.1 1,360.8 Inventories 1,483.6 1,413.7 Prepaid expenses and other current assets 381.6 399.0 Total current assets 4,061.4 3,937.2 Land, buildings and equipment 3,687.7 3,743.6 Goodwill 8,747.2 8,741.2 Other intangible assets 4,530.4 4,538.6 Other assets 785.9 751.7 Total assets 21,812.6 21,712.3 Liabilities and equity Current liabilities: Accounts payable $2,119.8 $2,046.5 Current portion of long-term debt 604.7 1,103.4 Notes payable 1,234.1 269.8 Other current liabilities 1,372.2 1,595.0 Total current liabilities 5,330.8 5,014.7 Long-term debt 7,642.9 7,057.7 Deferred invomce taxes 1,719.4 1,399.6 Other liabilities 1,523.1 2,087.6 Total liabilities 16,216.2 15,559.6 Redeemable interest 910.9 845.6 Stockholder's equity: Common stock, 754.6 shares issued, $0.10 per value 75.5 75.5 Additional paid-in capital 1,120.9 1,177.0 Retained earning 13,138.9 12,616.5 Common stock in treasury, at cost, shares of 177.7 and 157.8 (7,762.9) (6,326.6) Accumlated other comprehensive costs (2,244.5) (2,612.2) Total stockholder's equity 4,327.9 4,930.2 Noncontrolling interests 357.6 376.9 Total equity 4,685.5 5,307.1 Total liabilities and equity $21,812.6 $21,712.3 Required: a) Calculate the following financial ratios for 2016 and 2017 1. Gross profit percentage 2. Return on sales 3. Asset turnover (2015, total assets = $21,932.0 million) 4. Reutrn on assets (2015, total assets = $21,932.0 million) 5. Return on common stockholders' equity (2015, total stockholders' equity = $4996.7 million) 6. Current ratio 7. Quick ratio 8. Operating-cash-flow-to-current-liabilities ratio (2015, current liabilites = $4,890.1 million) 9. Accounts receicable turnover (2015, accounts receivable = $1,386.7 million) 10. Average collection period 11. Inventory turnover ( 2015, inventory = $1,540.9 million) 12. Days' sales in inventory 13. Debt-to-equity ratio 14. Times-interest-earned ratio 15. Operating-cash-flow-to-capital-expenditures ratio 16. Earnings per share 17. Price-earnings ratio (Use year-end adjusted closing stock price of $57.32 for 2017 and $63.69 for 2016) 18 Dividend yield 19 Dividend payout ratio b) Comment briefly on the changes from fiscal 2016 to fiscal 2017 in the raitios computed above.

I need help on this. First here is the information on General Mill's balance sheet (let me know if you need more information). Balance sheets In millions, except per value Assets May 28, 2017 May 29, 2016 Current assets: Cash and cash equivalents $766.1 $763.7 Receivables 1,430.1 1,360.8 Inventories 1,483.6 1,413.7 Prepaid expenses and other current assets 381.6 399.0 Total current assets 4,061.4 3,937.2 Land, buildings and equipment 3,687.7 3,743.6 Goodwill 8,747.2 8,741.2 Other intangible assets 4,530.4 4,538.6 Other assets 785.9 751.7 Total assets 21,812.6 21,712.3 Liabilities and equity Current liabilities: Accounts payable $2,119.8 $2,046.5 Current portion of long-term debt 604.7 1,103.4 Notes payable 1,234.1 269.8 Other current liabilities 1,372.2 1,595.0 Total current liabilities 5,330.8 5,014.7 Long-term debt 7,642.9 7,057.7 Deferred invomce taxes 1,719.4 1,399.6 Other liabilities 1,523.1 2,087.6 Total liabilities 16,216.2 15,559.6 Redeemable interest 910.9 845.6 Stockholder's equity: Common stock, 754.6 shares issued, $0.10 per value 75.5 75.5 Additional paid-in capital 1,120.9 1,177.0 Retained earning 13,138.9 12,616.5 Common stock in treasury, at cost, shares of 177.7 and 157.8 (7,762.9) (6,326.6) Accumlated other comprehensive costs (2,244.5) (2,612.2) Total stockholder's equity 4,327.9 4,930.2 Noncontrolling interests 357.6 376.9 Total equity 4,685.5 5,307.1 Total liabilities and equity $21,812.6 $21,712.3 Required: a) Calculate the following financial ratios for 2016 and 2017 1. Gross profit percentage 2. Return on sales 3. Asset turnover (2015, total assets = $21,932.0 million) 4. Reutrn on assets (2015, total assets = $21,932.0 million) 5. Return on common stockholders' equity (2015, total stockholders' equity = $4996.7 million) 6. Current ratio 7. Quick ratio 8. Operating-cash-flow-to-current-liabilities ratio (2015, current liabilites = $4,890.1 million) 9. Accounts receicable turnover (2015, accounts receivable = $1,386.7 million) 10. Average collection period 11. Inventory turnover ( 2015, inventory = $1,540.9 million) 12. Days' sales in inventory 13. Debt-to-equity ratio 14. Times-interest-earned ratio 15. Operating-cash-flow-to-capital-expenditures ratio 16. Earnings per share 17. Price-earnings ratio (Use year-end adjusted closing stock price of $57.32 for 2017 and $63.69 for 2016) 18 Dividend yield 19 Dividend payout ratio b) Comment briefly on the changes from fiscal 2016 to fiscal 2017 in the raitios computed above.

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter3: Journalizing Transactions

Section: Chapter Questions

Problem 1ANFS

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I need help on this. First here is the information on General Mill's balance sheet (let me know if you need more information).

Balance sheets

In millions, except per value

Assets	May 28, 2017	May 29, 2016
Current assets:
Cash and cash equivalents	$766.1	$763.7
Receivables	1,430.1	1,360.8
Inventories	1,483.6	1,413.7
Prepaid expenses and other current assets	381.6	399.0
Total current assets	4,061.4	3,937.2
Land, buildings and equipment	3,687.7	3,743.6
Goodwill	8,747.2	8,741.2
Other intangible assets	4,530.4	4,538.6
Other assets	785.9	751.7
Total assets	21,812.6	21,712.3

Liabilities and equity
Current liabilities:
Accounts payable	$2,119.8	$2,046.5
Current portion of long-term debt	604.7	1,103.4
Notes payable	1,234.1	269.8
Other current liabilities	1,372.2	1,595.0
Total current liabilities	5,330.8	5,014.7
Long-term debt	7,642.9	7,057.7
Deferred invomce taxes	1,719.4	1,399.6
Other liabilities	1,523.1	2,087.6
Total liabilities	16,216.2	15,559.6
Redeemable interest	910.9	845.6
Stockholder's equity:
Common stock, 754.6 shares issued, $0.10 per value	75.5	75.5
Additional paid-in capital	1,120.9	1,177.0
Retained earning	13,138.9	12,616.5
Common stock in treasury, at cost, shares of 177.7 and 157.8	(7,762.9)	(6,326.6)
Accumlated other comprehensive costs	(2,244.5)	(2,612.2)
Total stockholder's equity	4,327.9	4,930.2
Noncontrolling interests	357.6	376.9
Total equity	4,685.5	5,307.1
Total liabilities and equity	$21,812.6	$21,712.3

Required:

a) Calculate the following financial ratios for 2016 and 2017

1. Gross profit percentage

2. Return on sales

3. Asset turnover (2015, total assets = $21,932.0 million)

4. Reutrn on assets (2015, total assets = $21,932.0 million)

5. Return on common stockholders' equity (2015, total stockholders' equity = $4996.7 million)

6. Current ratio

7. Quick ratio

8. Operating-cash-flow-to-current-liabilities ratio (2015, current liabilites = $4,890.1 million)

9. Accounts receicable turnover (2015, accounts receivable = $1,386.7 million)

10. Average collection period

11. Inventory turnover ( 2015, inventory = $1,540.9 million)

12. Days' sales in inventory

13. Debt-to-equity ratio

14. Times-interest-earned ratio

15. Operating-cash-flow-to-capital-expenditures ratio

16. Earnings per share

17. Price-earnings ratio (Use year-end adjusted closing stock price of $57.32 for 2017 and $63.69 for 2016)

18 Dividend yield

19 Dividend payout ratio

b) Comment briefly on the changes from fiscal 2016 to fiscal 2017 in the raitios computed above.

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