As a team, select an industry to analyze. Using your web browser, each team member should access the annual report or 10-K for one publicly traded company in the industry, with each member selecting a different company. (See S1-3 in Chapter 1 for a description of possible resources for these tasks.)

Required:
1. On an individual basis, each team member should write a short report that incorporates the following:

a. Describe the company’s business in sufficient detail to be able to classify it as a service or merchandising company. What products or services does the company provide?
b. Calculate the gross profit percentage at the end of the current and prior years, and explain any change between the two years.

2. Then, as a team, write a short report comparing and contrasting your companies using these attributes. Discuss any patterns across the companies that you as a team observe. Provide potential explanations for any differences discovered.