Problem
• Which method, single-step or multiple-step, is used in the statement?
• What are the captions of the intermediate profit amounts reported by this company that are not reported by Campbell Soup Company?
• Calculate the gross profit ratio for each of the years reported. Briefly evaluate the trend of these results.
• Is operating income increasing or decreasing for the years reported?
• Does the company report any discontinued operations? If so, what are the effects on net income and earnings per share?
The response must include a reference list. One-inch margins, double-space, Using Times New Roman 12 pnt font and APA style of writing and citations.