CONSOLIDATED BALANCE SHEETS May 28, 2017 May 29, 2016 Net sales by class of similar products were as follows: In Millions Inventories: Fiscal Year GENERAL MILLS, INC. AND SUBSIDIARIES Raw materials and packaging Finished goods In Millions 2017 2016 2015 395.4 397.3 1,224.3 1,163.1 $ 3,302.2 $ 3,297.2 $ 3,392.0 Snacks Grain 73.0 72.6 Cereal 2,673.2 2,731.5 2,771.3 (209.1) 1,483.6 $1,413.7 (219.3) In Millions, Except Par Value May 29, 2016 Excess of FIFO over LIFO cost (a) May 28, 2017 Convenient meals 2,653.6 2,779.0 2,810.3 Total Yogurt Dough Baking mixes and ingredients 1,654.1 Super-premium ice cream 2,403.5 2,760.9 2,938.3 ASSETS (a) Inventories of $893.8 million as of May 28, 2017, and $8410 million as of May 29, 2016, were valued at LIFO. The difference between replacement cost and the stated LIFO inventory value is not materially different from the reserve for the LIFO valuation method. 1,690.6 1,820.0 1,877.0 Current assets: 1,867.7 1,704.3 Cash and cash equivalents $ 763.7 1,360.8 $ 766.1 738.4 731.2 769.5 Receivables 1,430.1 Vegetables 310.5 532.3 937.3 Мay 29, 2016 Inventories 1,483.6 1,413.7 Мay 28, 2017 Other 193.7 206.7 266.9 In Millions $15,619.8 $16,563.1 $17,630.3 Total Prepaid expenses and other current assets 381.6 399.0 Prepaid expenses and other current assets: Total current assets 4,061.4 3,937.2 163.7 Other receivables 159.3 The following table provides financial information by geographic area: Land, buildings, and equipment 3,687.7 3,743.6 Prepaid expenses 168.9 177.9 Goodwill 8,747.2 8,741.2 Derivative receivables, primarily commodity-related Grain contracts Other intangible assets 35.0 44.6 4,530.4 4,538.6 Fiscal Year 2.7 1.8 In Millions 2017 2016 2015 Other assets 785.9 751.7 Miscellaneous 11.3 15.4 Net sales: Total assets $ 21,812.6 $ 21,712.3 381.6 $ Total 399.0 $11,160.9 $11,930.9 $12,501.8 United States 4,632.2 LIABILITIES AND EQUITY Non-United States 4,458.9 5,128.5 May 28, 2017 Мay 29, 2016 $15,619.8 $16,563.1 $17,630.3 Total In Millions Current liabilities: Land, buildings, and equipment Accounts payable $ 2,119.8 2,046.5 Мay 28, 2017 May 29, 2016 $ Land 79.8 92.9 In Millions Current portion of long-term debt Notes payable 604.7 1,103.4 2,236.0 Buildings Buildings under capital lease Equipment Equipment under capital lease Capitalized software Construction in progress Total land, buildings, and equipment Less accumulated depreciation 2,249.2 Cash and cash equivalents: 1,234.1 269.8 0.3 0.3 United States $ 62.9 $ 118.5 Other current liabilities 1,372.2 1,595.0 6,095.9 5,945.6 Non-United States 703.2 645.2 Total current liabilities 5,330.8 5,014.7 3.0 3.0 Total 766.1 763.7 Long-term debt 7,057.7 7,642.9 545.4 523.0 553.0 702.7 Мay 28, 2017 Deferred income taxes 1,719.4 1,399.6 Мay 29, 2016 In Millions 9,526.6 9,503.5 Other liabilities 2,087.6 1,523.1 Land, buildings, and equipment: (5,838.9) (5,759.9) Total liabilities 16,216.2 15,559.6 $ 2,704.0 $ 2,755.1 Total 3,687.7 3,743.6 United States Redeemable interest 910.9 845.6 Non-United States 983.7 988.5 May 28, 2017 May 29, 2016 Stockholders' equity: $ 3,687.7 $ 3,743.6 Total In Millions Common stock, 754.6 shares issued, $0.10 par value Additional paid-in capital 75.5 75.5 Other assets: 1,120.9 1,177.0 Investments in and advances NOTE 17. SUPPLEMENTAL INFORMATION Retained earnings 13,138.9 12,616.5 505.3 $ to joint ventures 518.9 (6,326.6) (2,612.2) Pension assets (7,762.9) 144.9 90.9 Common stock in treasury, at cost, shares of 177.7 and 157.8 The components of certain Consolidated Balance Sheet accounts are as follows: Exchangeable note with related party 12.7 (2,244.5) Accumulated other comprehensive loss Total stockholders' equity Life insurance 25.6 26.3 4,327.9 4,930.2 Miscellaneous 110.1 102.9 Noncontrolling interests Total equity Total liabilities and equity Мay 28, 2017 357.6 376.9 May 29, 2016 Total 785.9 751.7 In Millions 4,685.5 5,307.1 Receivables: $ 21,712.3 $21,812.6 $ 1,454.4 (24.3) $ 1,430.1 $ 1,360.8 $ 1,390.4 Customers (29.6) Less allowance for doubtful accounts See accompanying notes to consolidated financial statements. Total Fiscal Year 2015 (a) In Millions, Except Per Share Data, Percentages and Ratios 2017 2016 2014 2013 CONSOLIDATED STATEMENTS OF EARNINGS Operating data: $ 17,630.3 $ 17,774.1 $15,619.8 $ 16,563.1 17,909.6 Net sales Gross margin b) Selling, general, and administrative expenses Operating profit Total segment operating profit (e Divestitures loss (gain) Net earnings attributable to General Mills Advertising and media expense Research and development expense 5,563.8 5,829.5 5,949.2 6,369.8 6,423.9 3,328.0 2,801.3 3,118.9 3,474.3 3,552.3 GENERAL MILLS, INC. AND SUBSIDIARIES 2,566.4 2,707.4 2,077.3 2,957.4 2,851.8 2,952.6 2,999.5 3,035.0 3,153.9 3,222.9 (148.2) (65.5) 13.5 Fiscal Year 1,657.5 1,697.4 1,221.3 1,824.4 1,855.2 In Millions, Except per Share Data 2017 2016 2015 754.4 623.8 823.1 869.5 895.0 $ 17,630.3 Net sales $ 15,619.8 $ 16,563.1 243.6 218.2 222.1 229.4 237.9 Cost of sales 10,056.0 10,733.6 11,681.1 Average shares outstanding: Selling, general, and administrative expenses Divestitures loss (gain) Restructuring, impairment, and other exit costs Operating profit 3,118.9 3,328.0 2,801.3 Diluted 598.0 611.9 618.8 645.7 665.6 (148.2) 13.5 Earnings per share: 182.6 151.4 543.9 $ $ Diluted 2.77 2.77 1.97 2.83 2.79 2,566.4 2,707.4 2,077.3 Diluted, excluding certain items affecting comparability $ Operating ratios: Gross margin as a percentage of net sales $ 3.08 2.92 $ 2.86 $ 2.82 2.72 $ Interest, net 295.1 303.8 315.4 Earnings before income taxes and after-tax earnings from joint ventures 2,271.3 2,403.6 1,761.9 35.6% 33.7% 35.2% 35.6% 36.1% 655.2 586.8 Income taxes 755.2 Selling, general, and administrative expenses as a After-tax earnings from joint ventures Net earnings, including earnings attributable to redeemable and noncontrolling interests Net earnings attributable to redeemable and noncontrolling interests 85.0 88.4 84.3 percentage of net sales Operating profit as a percentage of net sales Adjusted operating profit 19.4% 17.9% 18.8% 18.9% 20.0% 1,701.1 1,736.8 1,259.4 16.3% 11.8% 16.4% 16.5% 16.0% 43.6 39.4 38.1 $ 1,697.4 $ 1,657.5 Net earnings attribut able to General Mills 1,221.3 as a percentage of net sales (b) (c) Total segment operating profit 18.1% 16.8% 15.9% 16.2% 16.3% Earnings per share basic Earnings per share diluted Dividends per share $ 2.82 2.83 2.02 $ 2.77 2.77 1.97 $ as a percentage of net sales Effective income tax rate 18.9% 18.1% 17.2% 17.6% 18.1% $ 1.92 1.78 1.67 $ $ 28.8% 31.4% 33.3% 33.3% 29.2% See accompanying notes to consolidated financial statements. Return on average total capital 12.7% 12.9% 9.1% 12.5% 13.4% Adjusted return on average total capital b)e) 11.6% 11.3% 11.2% 11.6% 12.0% Balance sheet data: $ 3,687.7 Land, buildings, and equipment Total assets $3,743.6 $ 3,941.9 3,878.1 3,783.3 21,812.6 23,044.7 21,712.3 21,832.0 22,505.7 6,396.6 Long-term debt, excluding current portion 7,642.9 7,057.7 7,575.3 5,901.8 CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Total debt (b) 9,481.7 8,430.9 9,191.5 8,758.9 7,944.8 Cash flow data: $ 2,313.3 $ 2,542.8 712.4 $ 2,926.0 613.9 $ 2,629.8 $ 2,541.0 Net cash provided by operating activities Capital expenditures Free cash flow (b) (e) GENERAL MILLS, INC. AND SUBSIDIARIES 729.3 684.4 663.5 1,628.9 1,900.5 1,830.4 1,877.5 2,312.1 Fixed charge coverage ratio () Operating cash flow to debt ratio (b) 7.26 7.40 5.54 8.04 7.62 Fiscal Year 24.4% 31.2% 27.7% 29.0% 36.8% 2016 In Millions 2017 2015 Share data: $ 1,701.1 $ 1,259.4 1,736.8 Net earnings, including earnings attributable to redeemable and noncontrolling interests Other comprehensive income (loss), net of tax: Foreign currency translation Net actuarial income (loss) Low stock price $ $ 55.91 54.12 48.86 46.86 37.55 High stock price Closing stock price 72.64 65.36 57.14 54.40 50.93 (957.9) (358.4) (108.7) (325.9) 6.3 57.32 62.87 56.15 53.81 48.98 197.9 Cash dividends per common share 1.92 1.78 1.67 1.55 1.32 Other fair value changes: Number of full- and part-time employees 38,000 39,000 42,000 43,000 41,000 Securities 0.8 0.1 0.8 Hedge derivatives Reclassification to earnings: Hedge derivatives 53.3 16.0 4.1 (25.7) (9.5) 4.9 Amortization of losses and prior service costs Other comprehensive income (loss), net of tax Total comprehensive income Comprehensive income (loss) attributable to redeemable 122.5 128.6 105.1 (299.4) (1,201.4) 355.1 2,056.2 1,437.4 58.0 (192.9) and noncontrolling interests Comprehensive income attributable to General Mills 31.0 41.5 $ 2,025.2 1,395.9 250.9 See accompanying notes to consolidated financial statements.

What amounts did Target report for the following items for the year ended January 30, 2016?a. Total Revenuesb. Income from current operationsc. Net income or net lossd. Total assetse. Total equity

Required: For each of the following accounts, what amount will Voltac report on its 2024 financial statements? a. Inventory b. Cost of goods sold c. Sales d. Accounts receivable e. Accounts payable f. Cash

With a given information below: (A) Prepare Income Statement and Balance Sheet in the Year 2020. (B) Analyze Income Statement and Balance Sheet in the Year 2020 Vertically. (C) Compute Financial Ratios: (1) ROE, (2) ROA, (3) Average Collection Period, (4) Debt to Asset, (5) Debt to Equity, (6) Time Interest Earned, (7) Total Assets Turnover, (8) Operating Profit Margin, (9) Return On Common Equity (ROCE), (10) Net Working Capital Ratio, (11) Quick Ratio, (12) Current Ratio. Cash $6,000 Sales $100,000 Utility Expense $8,000 Buildings $65,000 Common Stock $45,000 Accounts Payable $12,000 Supplies $4,000 Cost of Goods Sold $58,000 Interest Expense $5,000 Additional Paid in Capital $20,000 Bonds Payable $40,000 Supplies Expense $3,000 Salaries Expense $16,000 Accounts Receivable $10,000 Inventories $45,000 Retained Earnings $5,000 (beg. bal.) Income Tax Rate 20%