Campbell's The difference between sales revenue and cost of goods sold is gross profit, or gross margin. Using data from Exhibit 9-1, here is the income statement for Campbell Soup Company to this point: CAMPBELL SOUP COMPANY Consolidated Statements of Earnings (dollars in millions) Three Years Ended July 30, 2017 Net sales Cost of products sold Gross margin 2017 2016 2015 $7,890 $7.961 $8,082 4,831 5,181 5,300 $3,059 $2,780 $2,782 Campbell's Required: a. Which method, single-step or multiple-step, is used in the statement? b. What are the captions of the intermediate profit amounts reported by this company that are not reported by Campbell Soup Company? c. Calculate the gross profit ratio for each of the years reported. Briefly evaluate the trend of these results. d. Is operating income increasing or decreasing for the years reported? e. Does the company report any discontinued operations? If so, what are the effects on net income and earnings per share