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Instructions Refer to P&G's 2015 financial statements and the accompanying notes to answer the following...

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Accounting

Instructions Refer to P&G's 2015 financial statements and the accompanying notes to answer the following questions. (a) What type of income statement format does P&G use? Please discuss the advantages or disadvantages of using this format to present income statement information. (b) What are P&G's primary revenue sources? (hint: in addition to financial statements, you can also look into Management Discussion and Analysis (MD&A)). (c) Compute P&G's gross profit for each of the years 20132015. Explain why gross profit decreased in 2015. (d) Identify the irregular items, if any, reported by P&G in its 2015 income statement. Do these irregular items, if any, appear to be significant?

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