Reference no: EM132666378
Formulating Financial Statements from Raw Data and Calculating Ratios
Following is selected financial information from JM Smucker Co. for the year ended April 30, 2018 ($ millions).
Current assets, end of year$1,523.9Long-term liabilities, end of year$6,248.8Cash, end of year188.7Stockholders' equity, end of year7,733.3Cash from investing activities(272.0)Cash from operating activities1,193.6Cost of products sold4,430.6Total assets, beginning of year15,326.9Total liabilities, end of year7,261.9Revenue7,210.0Cash from financing activities*(896.3)Total expenses, other than cost of1,467.6Stockholders' equity, beginning of year6,713.2product soldDividends paid343.3
* Cash from financing activities includes the effects of foreign exchange rate fluctuations.
a. Prepare the income statement for the year ended April 30, 2018.
Note: Do not use negative signs with any of your answers.
J M Smucker CoIncome Statement ($ millions)For the year ended April 30, 2018RevenuesAnswer
Cost of product soldAnswer
Gross profitAnswer
ExpensesAnswer
Net incomeAnswer
b. Prepare the balance sheet as of April 30, 2018.
J M Smucker CoBalance Sheet ($ millions)April 30, 2018Current assetsAnswer
Current liabilitiesAnswer
Long-term assetsAnswer
Long-term liabilitiesAnswer
Total liabilitiesAnswer
-Stockholders' equityAnswer
Total assetsAnswer
Total liabilities and equityAnswer
c. Prepare the statement of cash flows for the year ended April 30, 2018.
Note: Use a negative sign with your answer to indicate cash was used by activities and/or a decrease in cash.
J M Smucker CoStatement of Cash Flow ($ millions)For the year ended April 30, 2018Cash from operating activitiesAnswer
Cash from investing activitiesAnswer
Cash from financing activitiesAnswer
Net increase (decrease) in cashAnswer
Cash, beginning of yearAnswer
Cash, end of yearAnswer
d. Compute ROA.
e. Compute profit margin (PM).
f. Compute asset turnover (AT).
g. Compute ROE.