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Kellogg Company is the world's leading producer of ready-to-eat cereal and a leading producer of grain-based convenience foods such as frozen waffles and cereal

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Kellogg Company is the world's leading producer of ready-to-eat cereal and a leading producer of grain-based convenience foods such as frozen waffles and cereal bars. Suppose the following items were taken from its 2025 Income statement and balance sheet. (All dollars are in millions.) Retained earnings $4,400 Bonds payable $4,900 Cost of goods sold 6.800 Inventory 800 Selling and administrative expenses 3,410 Sales revenue 12,400 Cash 360 Accounts payable 1.070 Notes payable 50 Common stock 140 Interest expense 320 Income tax expense 561 KELLOGG COMPANY Income Statement (in millions) Dividends Expenses Net Income/(Loss) Retained Earnings, January 1 Retained Earnings, December 31 Revenues Total Expenses Total Revenues

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