Which statement best describes the document used to reference the 2016 gross profit data?

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Multiple Choice

Which statement best describes the document used to reference the 2016 gross profit data?

Explanation:
Gross profit for a full year is found in the company’s annual financial statements, which are presented in Form 10-K. The 10-K is the annual report filed with the SEC and includes the audited income statement for the year, along with prior-year comparisons. The quarterly form (10-Q) only shows interim results, not the full-year figure. The 8-K reports material events and may include some financial notes, but it isn’t the source for annual figures. The Proxy Statement covers governance and compensation, not the annual financial statements. So the best description of the document used to reference the 2016 gross profit data is the latest 10-K.

Gross profit for a full year is found in the company’s annual financial statements, which are presented in Form 10-K. The 10-K is the annual report filed with the SEC and includes the audited income statement for the year, along with prior-year comparisons. The quarterly form (10-Q) only shows interim results, not the full-year figure. The 8-K reports material events and may include some financial notes, but it isn’t the source for annual figures. The Proxy Statement covers governance and compensation, not the annual financial statements. So the best description of the document used to reference the 2016 gross profit data is the latest 10-K.

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