Kellogg Company (K) produces, markets, and distributes cereal and food products including Cheez-It, Coco Pops, Rice Krispies,
Question:
Kellogg Company (K) produces, markets, and distributes cereal and food products including Cheez-It, Coco Pops, Rice Krispies, and Pringles. The following partial income statements (in millions) were adapted from recent financial statements.
1. Prepare common-sized income statements for Years 1 and 2. Round to one decimal place.
2. Using your answer to (1), analyze the performance of Kellogg in Year 2.
Transcribed Image Text:
Year 1 Year 2 Gross profit Selling and administrative expenses.... Operating income . $14,580 9,517) 5,063 (4,039) $ 1,024 . $ 6,1013 (3,266) $ 2,837
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