Analyzing, Forecasting, and interpreting Both Income Statement and Balance Sheet Following are the income statements and balance sheets of General Mill, Inc. Income Statement, Fiscal Years Ended (S millions) May 29, 2011 May 30, 2010 s 14,880.2$14635.6 8.8354 Net Sales Cost of sales 8926.7 Selling, general and administrative expenses 3,192.03,1627 (174) Divestitures (gain), net Restructuring, impairment, and other exit costs Operating income 4.4 314 27745 2,606 401.6 346.3 Interest, net Earnings before income tax expense and equity in income of affiliates2428222045 income tax expense 721.1 271.2 96.4 1012 After-tax earnings from joint ventures Net earnings including noncontrolling interests Net earnings attributable to noncontrolling interests Net earnings attributable to General Mills 1.8035(535.0 4.5 5.2 s 1.798.35305