BREAF CASE STUDY (15 MARKS) The financial statements of M&S (GBR) are presented below. The company's complete annual report, including the notes to the financial statements. INSTRUCTIONS (a) What type of income statement format does M&S use? Indicate why this format might be used to present income statement information (b) What are M&S's primary revenue sources? (c) Compute M&S's gross profit for each of the years 2012 and 2013. Explain why gross profit increased in 2013. (d) Why does M&S make a distinction between operating and non-operating profit? (e) Does M&S report any non-IFRS measures? Explain. BREAF CASE STUDY (15 MARKS) The financial statements of M&S (GBR) are presented below. The company's complete annual report, including the notes to the financial statements. INSTRUCTIONS (a) What type of income statement format does M&S use? Indicate why this format might be used to present income statement information (b) What are M&S's primary revenue sources? (c) Compute M&S's gross profit for each of the years 2012 and 2013. Explain why gross profit increased in 2013. (d) Why does M&S make a distinction between operating and non-operating profit? (e) Does M&S report any non-IFRS measures? Explain