The financial statements of M&S (GBR) are presented in Appendix A. The companys complete annual report, including
Question:
The financial statements of M&S (GBR) are presented in Appendix A. The company’s complete annual report, including the notes to the financial statements, is available online.
Instructions
a. What type of income statement format does M&S use? Indicate why this format might be used to present income statement information.
b. What are M&S’s primary revenue sources?
c. Compute M&S’s gross profit for each of the years 2018 and 2019. Explain why gross profit increased in 2019.
d. Why does M&S make a distinction between operating and non-operating profit?
e. Does M&S report any non-IFRS measures? Explain.
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Related Book For
Intermediate Accounting IFRS
ISBN: 9781119607519
4th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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