3211_group_income_statement_part. - III. Income Statement...

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III. Income Statement [1] Income statement is on page(s): Pg. 30 [2] Is Wal-Mart’s income statement a single-step or a multiple-step? Explain. Multiple-Step, because its include a number of intermediate subtotals before arriving at income from continuing operations. [1] items. You might have to do some calculations if the item is not readily available on Wal-Mart’s income statement. Restate each item as a percentage of total revenue for the same year. ( This is “vertical analysis”. See page 121 on the textbook). Round the percentages to a whole number. For example, 95 %. )- ( Amounts in millions ) 2006 2005 Category Amount % Amount % Total revenue ( including net sales and other income ) $315,654 100% $288,132 100% Cost of sales 240,391 76% 219,793 76% Gross profit 75,263 24% 68,339 24% Operating expenses 56,733 18% 51,248 18% Operating income 18,530 6% 17,091 6% Net other revenues and expenses 1,172 0.37% 986 0.34% Income from continuing operations before taxes 17,358 5% 16,105
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This note was uploaded on 11/28/2009 for the course BUSINESS acct 3211 taught by Professor Lin during the Winter '09 term at Calhoun Community College.

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3211_group_income_statement_part. - III. Income Statement...

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