General Mills Inc. (GIS) produces, markets, and distributes cereal and food products including Cheerios, Wheaties, Cocoa Puffs, Yoplait, and Pillsbury branded products. 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 $15,620 $15,740 (10,056) (10,313) $5,564 $5,427 (2,801) (2,753) $ 2,763 $ 2,674