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Group_Annual_Report-Lina part - III Income Statement[1...

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III. Income Statement [1] Income statement is on page(s): Page 30 [2] Is Wal-Mart’s income statement a single-step or a multiple-step? Explain. Wal-Mart uses multiple-step because the operating and non-operating income on their income statement is separated [1] Identify the dollar amount Wal-Mart reported for each of the following income statement 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 6% Income from continuing operations 11,231 4% 10,267 4%
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