The first two lines of Unilever Group?s 2013 consolidated income statement (using IFRS) report the following amounts (in millions of euros):

Required:

A. On the income statement, the first two lines in Unilever?s income statement are turnover and operating profit. What does the term turnover mean? Which costs are typically reported between turnover and operating profit?

B. How useful is Unilever?s income statement presentation considering that this information about expenses is disclosed in footnote 3 rather than being reported on the face of the income statement?

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Income Statement Continuing Operations 2017 2016 Turnover 53,715 52,713 Operating profit 8,857 7,801 Footnotes In footnote 3, the following is disclosed: Turnover 53,715 52,713 Cost of sales 30,547 30,229 Gross profit Selling and administration expenses Operating profit 23,168 22,484 14,311 14,683 8,857 7,801