Effect of exchange rate changes on cash
Cash, beginning year
31.8
766.1
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?
1-38. Formulating Financial Statements from Raw Data
Following is selected financial information from Abercrombie & Fitch for its fiscal year ended
February 3, 2018 ($ millions):
Cash asset.
$ 675.6
Cash flows from operations
285.7
Sales.
3,492.7
Stockholders' equity
1,252.5
Cost of goods sold
1,408.8
Cash flows from financing
(74.8)
Total liabilities
1,073.2
Other expenses, including income taxes
2,073.4
Noncash assets
1,650.1
Cash flows from investing.
(106.8)
Net income.
10.5
Effect of exchange rate changes on cash
24.3
Cash, beginning year
17.2
REQUIRED
a. Prepare an income statement, balance sheet, and statement of cash flows for Abercrombie &
Fitch.
b. Determine the owner and creditor financing levels.