The General Mills 2002 Annual Report is reproduced in Appendix B at the end of the text.

Required Answer the following questions about the General Mills Consolidated Statement of Cash Flows.
A. What are the three categories of cash flows shown on the company’s cash flow statement? B. Compare the net income figure to the amount of net cash provided by operating activities for each of the three years. What do you observe?
C. Has the net cash provided by operating activities been large enough to meet the net investing cash outflow? Explain where the difference came from (or went).
D. Compare the dividend payments to the income amounts for the current year. (Note: You may find it helpful to calculate the dividend payout ratio, which is the total dividends for the period ÷ net income for the period. This ratio is explained further in Ch. F10.)

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