The financial statements of Marks and Spencer plc (M&S) are available at the book’s companion website or can be accessed at http://corporate.marksandspencer.com/documents/publications/2012 /Annual_Report_2012.

Instructions
Refer to M&S’s financial statements and the accompanying notes to answer the following questions.
  (a) Does M&S report any intangible assets and goodwill in its financial statements and accompanying notes? Briefly explain.
  (b) How much selling and marketing expenses does M&S report in 2011 and 2012? Briefly discuss the significance of these expenses to M&S’s operating results.