Nokia, Research In Motion, and Apple are competitors in the global marketplace. Key comparative figures for each company follow.
|
|
Net Sales |
Cost of Sales |
|
Nokia* |
40,984 |
27,720 |
|
Research In Motion† |
$14,953 |
$ 8,369 |
|
Apple† |
$42,905 |
$25,683 |
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?