# X Content CengageNOW2 Online beach X signment/takelssignment Main.do?invokera&takeAssignmentSessionlocator=&inprogress-false CengageNoW2 Assignment X + ebook Co-onsethome Statements General...

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X Content CengageNOW2 Online beach X signment/takelssignment Main.do?invokera&takeAssignmentSessionlocator=&inprogress-false CengageNoW2 Assignment X + ebook Co-onsethome Statements General Mills Inc. (GIS) produces, markets, and distributes cereal and food products including Cheerios, Wheatles, Cocoa Puffs, Yoplait, and Pillsbury branded products. The towing partial income statements (in millions) were adapted from recent financial statements. Year 1 Year 2 Sale $15,620 Cost of goods sold$15,740 (10,313) (10,056) $5,427 Gross profit Selling and administrative expenses Operating income$ 5,564 (2,801) (2,753) $2,674$ 2,763 1. Prepare common-sized income statements for Years 1 and 2. Round your answers to one decimal place General Mills Inc. Common-Sized Income Statement Year 1 and 2 Yeart Year 2 Increase (Decrease) Sales Cost of goods sold Gross profit Selling and administrative expenses 96 90 Operating income 2. What is the primary cause of the decrease in operating income in Year 2

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