General Mills, Inc. is a leading global manufacturer and marketer of branded consumer foods sold through retail stores and a supplier of branded and unbranded food products to the foodservice and commercial banking industries. The following amounts were in the financial statements contained in its annual report for the year ended May 29, 2011 ($ in millions):

Choose the relevant data and prepare

(1) The income statement for the year

(2) The retained earnings column of the statement of stockholders’ equity for the year. Label the final three lines of the income statement as follows: income before income taxes, provision for income taxes, and net income.

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Total sales $14,880.2 $8,122.4 Retained earnings at beginning of year (June 1, 2010) Cash 619.6 Income taxes 721.1 Cost of sales 8,926.7 Accounts payable 995.1 Dividends declared 729.4 Total assets 18,674.5 Other expenses 3,434.1