The financial statements of P&G are presented in Appendix B. The companys complete annual report, including the notes to the financial statements, is available online. Instructions Refer to P&Gs financial statements and the accompanying notes to answer the following questions. What type of income statement format does P&G use? Indicate why this format might be used to present income statement information. What are P&Gs primary revenue sources? Compute P&Gs gross profit for each of the years 20182020. Explain why gross profit decreased in 2020. Why does P&G make a distinction between operating and nonoperating revenue? What financial ratios did P&G choose to report in its Financial Summary section covering the years 20152020?