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 sta...

a MS uses a condensed format income statement This format provides highlights of a companys performance without presenting unnecessary detailed comput ...

The financial statements of M&S (GBR) are presented in Appendix A. The company's complete annual report, including

Question:

The of M&S (GBR) are presented in Appendix A. The company's complete annual report, including the notes to the 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 2015 and 2016. Explain why gross profit increased in 2016.
d. Why does M&S make a distinction between operating and non-operating profit?
e. Does M&S report any non-IFRS measures? Explain.
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...