The first two lines of Unilever Group€™s 2008 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 in-comestatement?

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Income Statement 2007 40,187 5.245 Continuing Operations 2008 40,523 7,167 Turmover Operating profit Footnotes In footnote 3, the following is disclosed: Turnover Cost of sales Gross profit Distribution and selling costs Administration expenses Operating profit 40,523 21,342 19,181 9,309 2,705 7,167 40,187 20,558 19,629 9,429 4.895 5,245