Year 1 Year 2
Sales
$13,014
$12,923
Cost of goods sold
(8,259)
(7,901)
Gross profit
$4,755
$ 5,022
Selling and administrative expenses
(3,360)
(3,076)
Operating income
$ 1,395
$ 1,946
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1. Prepare common-sized income statements for Years 1 and 2. Round your answers to one decimal place.
Kellogg Company
Common-Sized Income Statement
Year 1 and 2
Year 1
Year 2
X % %
X %
%
Increase (Decrease)
%
Sales
%
Cost of goods sold
%
%
%
Gross profit
Selling and administrative expenses
%
%
%
%
%
96
Operating income
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