The following income statement is for a public traded company in the U.S. Review the 3 years presented and determine which year has the highest earnings quality. State at least two reasons to support...

The following income statement is for a public traded company in the U.S.  Review the 3 years presented and determine which year has the highest earnings quality.  State at least two reasons to support your answer.

Extracted text: The following income statement is for a public traded company in the U.S. Review the 3 years presented and determine which year has the highest earnings quality. State at least two reasons to support your answer. Year Ended December 26, December 28, December 29, (In millions, except per share amounts) 2020 2019 2018 2.069. 692.2 1.377.5 Net sales 1,740.1 1,797.9 610.8 1.187.1 Cost of products sold 570.8 Gross margin 1,169.3 949.6 999.4 Selling, general and administrative expense 1,060.5 Re-engineering charges 36.1 34.7 15.9 Gain on disposal of assets 14.0 12.9 18.7 Impairment expense 40.0 Operating income 197.6 125.9 319.8 Gain on debt extinguishment (40.2] Interest expense 38.6 41.5 46.5 (2.2) (16.8) (2.8) (0.1) 276.2 Interest income (1.5) Other expense (income), net (11.6) Income before income taxes 212.3 103.4 Provision for income taxes 100.1 91.0 120.3 Net income 112.2 S 12.4 155.9 Basic earnings per share 2.29 0.26 3.12 Diluted earnings per share 2.14 0.25 3.11 5:34 PM 50°F Clear (8: