Common-Sized Income Statements 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. Sales Cost of goods sold Gross profit Selling and administrative expenses Operating income Year 1 Year 2 $13,014 $12,923 (8,259) (7,901) $ 4,755 $ 5,022 (3,360) (3,076) $1,395 $1,946