Posted: January 24th, 2021

wal-mart, inc. multiple-step income statement

The following selected data was retrieved from the Wal-Mart, Inc. financial statements for the year ending January 31, 2013:

 

 

 

 

Accounts Payable

 

$38,080

 

Accounts Receivable

 

6,768

 

Cash

 

7,781

 

Common Stock

 

3,952

 

Cost of Goods Sold

 

352,488

 

Income Tax Expense

 

7,981

 

Interest Expenses

 

2,064

 

Membership Revenues

 

3,048

 

Net Sales

 

466,114

 

Operating, Selling and Administrative Expenses

 

88,873

 

Retained Earnings

 

72,978

 

 

Required:

Using the information provided above:

1. Prepare a multiple-step income statement

2. Calculate the Profit Margin, and Gross profit rate for the company. Be sure to provide the formula you are using, show your calculations, and discuss your findings/results

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