KTM (www.KTM.com), Polaris, and Arctic Cat are competitors in the global marketplace. Key comparative figures for each company follow.

* EUR thousands for KTM.
€  $ thousands for Polaris and Arctic Cat.
Required
1. Rank the three companies (highest to lowest) based on the gross margin ratio.
2. Which of the companies uses a multiple-step income statement format? (These companies€™ income statements are in AppendixA.)

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Net Sales Cost of Sales 371,752 Polarisf $2,656,949 $1,916,366 Arctic Cat 464.651 363.142 526,801