eBook Calculator Common-Sized Income Statements General Mills Inc. (GIS) produces, markets, and distributes cereal and food products includin products. The following partial income statements (in millions) were adapted from recent financ Year 1 Year 2 Sales $17,910 $17,630 Cost of goods sold (11,540) (11,681) $ 6,370 $ 5,949 Gross profit Selling and administrative expenses (3,474) (3,328) Operating income $ 2,896 $ 2,621