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


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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