General Mills Inc. produces, markets, and distributes cereal and food products including Cheerios, Wheaties, Cocoa Puffs, Yoplait, and Pillsbury branded products. The following partial income statements (in millions) were adapted from recent financial statements.

1. Prepare common-sized income statements for Years 2 and 1. Round to one decimal place.
2. Using (1), analyze the performance of General Mills in Year2.

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Year 2 Year 1 16,658 $14,880 Sales Cost of sales Gross profit Operating expenses Operating income. (8,927) S 5,953 (3,179) (10,613) S 6,045 (3482) S 2,563