14 Income Statement of Global Corporation for the year ended 31" December 2012 and 2013 are included below [4 Marks]: Net sales Cost of sales Gross Profit Selling, general, and administrative expenses Research and development Depreciation and amortization Operating Income GLOBAL CORPORATION Income Statement Year ended December 31 (in $ millions) 2013 Other income Earnings Before Interest and Taxes (EBIT) Interest income (expense) Pretax Income Taxes Net Income Earnings per share: Diluted earnings per share: a) Cost of Goods Sold [1 Mark] b) Gross Profit [1 Mark] c) EBIT [1 Mark] d) Net Income [1 Mark] 186.7 -153.4 33.3 -13.5 -8.2 -1.2 10.4 10.4 -7.7 2.7 -0.7 2.0 $0.56 $0.53 2012 176.1 -147.3 28.8 -13 -7.6 -1.1 7.1 - 7.1 -4.6 2.5 -0.6 By using common-size statements, compare the performance of Global Corporation for 2012 and 2013 based on the following items (show all work): 1.9 $0.53 $0.50