Solved: Which of the companies uses a multiple step income, Accounting Basics

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Which of the companies uses a multiple step income

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

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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 Appendix A.)

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