10 Nov Comparing Two Companies in the Same Industry: Kell
Comparing Two Companies in the Same Industry: Kellogg’s andGeneral MillsThis case should be completed after responding to the requirements in Case 13-2. Refer to thefinancial statement information of Kellogg’s and General Mills reprinted at the back of the book.Required:1. Using the format in Exhibit 13-6, prepare common-size comparative income statements for theyears ending May 28, 2006, and May 29, 2005, for General Mills. Round all percentages to thenearest one-tenth of a percent.2. The common-size comparative income statements indicate the relative importance of items onthe statement. Compare the common-size income statements of General Mills and Kellogg’s.What are the most important differences between the two companies’ income statements?3. Using the format in Exhibit 13-5, prepare common-size comparative balance sheets onMay 28, 2006, and May 29, 2005, for General Mills. Round all percentages to the nearest onetenthof a percent.4. The common-size comparative balance sheets indicate the relative importance of items on thestatement. Compare the common-size balance sheets of General Mills and Kellogg’s. What arethe most important differences between the two companies’ balance sheets?
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