Income computation for a manufacturing firm. The following data relate to General Mills, a food processor, for a recent year (amounts in millions):

The company incurred manufacturing costs (direct material, direct labor, manufacturing overhead) during the year totaling \(\$ 2,752.0\). Sales revenue was \(\$ 6,700.2\), selling and administrative expenses were \(\$ 2,903.7\), and interest expense was \(\$ 151.9\). The income tax rate is 35 percent. Compute net income for the year.

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June 1 May 30 Raw Materials Inventory Work-in-Process Inventory Finished Goods Inventory $ 73.7 $101.5 100.8 119.1 286.2 322.3