Income statement analysis Refer to the income statement in the annual report you have obtained either as a result of completing Exercise 1.1 or otherwise.
Required:
a. Which method, single-step or multiple-step, is used in the statement?
b. Calculate the gross profit ratio for the years reported.
c. Is operating income increasing or decreasing for the years reported?
d. Does the company report any unusual items? If so, what are the effects of these items on net income and earnings per share?
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