Forecasting the Balance Sheet
Refer to the General Mills, Inc. information in M 11- 13. Assume the forecast of 20 I 4 net sales is $18,662.8 million. Use the following financial statement relations to forecast General Mills' receivables, inventories, and accounts payable as of the end of May 20 14.
M 11- 13
Forecasting an Income Statement
General Mills, Inc. reports the following fiscal year income statements.
Forecast General Mills' fiscal year 2014 income statement assuming the following income statement relations ($ in millions). All percentages (other than net sales growth, income taxes, and net earnings attributable to noncontrolling interests) are based on percent of sales.
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