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 sheetsIn millions, except per valueAssetsMay 28, 2017May 29, 2016Current assets:     Cash and cash equivalents$766.1$763.7   Receivables1,430.11,360.8   Inventories1,483.61,413.7   Prepaid expenses and other current assets381.6399.0         Total current assets4,061.43,937.2Land, buildings and equipment3,687.73,743.6Goodwill8,747.28,741.2Other intangible assets4,530.44,538.6Other assets785.9751.7           Total assets21,812.621,712.3Liabilities and equity  Current liabilities:     Accounts payable$2,119.8$2,046.5   Current portion of long-term debt604.71,103.4   Notes payable1,234.1269.8   Other current liabilities1,372.21,595.0      Total current liabilities5,330.85,014.7Long-term debt7,642.97,057.7Deferred invomce taxes1,719.41,399.6Other liabilities1,523.12,087.6       Total liabilities16,216.215,559.6Redeemable interest910.9845.6Stockholder's equity:     Common stock, 754.6 shares issued, $0.10 per value75.575.5   Additional paid-in capital1,120.91,177.0   Retained earning13,138.912,616.5   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 equity4,327.94,930.2Noncontrolling interests357.6376.9          Total equity4,685.55,307.1Total liabilities and equity$21,812.6$21,712.3 Required:a) Calculate the following financial ratios for 2016 and 20171. Gross profit percentage2. Return on sales3. 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 ratio7. Quick ratio8. 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 period11. Inventory turnover ( 2015, inventory = $1,540.9 million)12. Days' sales in inventory13. Debt-to-equity ratio14. Times-interest-earned ratio15. Operating-cash-flow-to-capital-expenditures ratio16. Earnings per share17. Price-earnings ratio (Use year-end adjusted closing stock price of $57.32 for 2017 and $63.69 for 2016)18 Dividend yield19 Dividend payout ratio b) Comment briefly on the changes from fiscal 2016 to fiscal 2017 in the raitios computed above.

Question
Asked Oct 6, 2019
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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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Expert Answer

Step 1

As you have posted multiple questions and not specified which ratios are to be computed, the solutions to 3 ratios  are provided. Kindly re-post the questions for the un-answered sub-parts and specify the sub-parts required( up to 3).For computation of profitability ratios and Turnover ratios income statement is required.

Step 2

Current Ratio is a liquidity ratio that measures a company’s ability to pay its short-term obligations i.e. dues to be paid within 1 year. Ideal Ratio is 2:1

Current Ratio = Current Assets  ÷ Current Liabilities

Acid Test Ratio or Quick ratio is a liquidity ratio that measures a company’s ability to pay its short-term obligations immediately. Ideal ratio is 1:1

Quick Ratio = Quick Assets ÷ Current Liabilities

Quick...

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