Using the below Income Statement Create a Common-Size income statement. Walmart Inc.'s  Consolidated Statement of Income                  As of January 31,       (Amounts in millions)     (Amounts in millions, except per share data) 2019 2018 2017 Revenues:       Net sales  $  510,329  $  495,761  $  481,317 Membership and other income          4,076          4,582          4,556 Total revenues      514,405      500,343      485,873 Costs and expenses:       Cost of sales      385,301      373,396      361,256 Operating, selling, general and administrative expenses      107,147      106,510      101,853 Operating income        21,957        20,437        22,764 Interest:       Debt          1,975          1,978          2,044 Capital lease and financing obligations             371             352             323 Interest income            (217)            (152)            (100) Interest, net          2,129          2,178          2,267 Loss on extinguishment of debt                  -          3,136                  - Other (gains) and losses          8,368                  -                  - Income before income taxes        11,460        15,123        20,497         Provision for income taxes          4,281          4,600          6,204 Consolidated net income          7,179        10,523        14,293 Consolidated net income attributable to noncontrolling interest            (509)            (661)            (650) Consolidated net income attributable to Walmart          6,670          9,862        13,643 Net income per common share:       Basic net income per common share attributable to Walmart 2.28 3.29 4.4 Diluted net income per common share attributable to Walmart 2.26 3.28 4.38 Weighted-average common shares outstanding:       Basic 2,929 2,995 3,101 Diluted 2,945 3,010 3,112 Dividends declared per common share 2.08 2.04 2.00

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question

Using the below Income Statement Create a Common-Size income statement.

Walmart Inc.'s  Consolidated Statement of Income       
 

 

 

 

  As of January 31,    
  (Amounts in millions)    

(Amounts in millions, except per share data)

2019 2018 2017
Revenues:

 

 

 

Net sales  $  510,329  $  495,761  $  481,317
Membership and other income          4,076          4,582          4,556
Total revenues      514,405      500,343      485,873
Costs and expenses:

 

 

 

Cost of sales      385,301      373,396      361,256
Operating, selling, general and administrative expenses      107,147      106,510      101,853
Operating income        21,957        20,437        22,764
Interest:

 

 

 

Debt          1,975          1,978          2,044
Capital lease and financing obligations             371             352             323
Interest income            (217)            (152)            (100)
Interest, net          2,129          2,178          2,267
Loss on extinguishment of debt                  -          3,136                  -
Other (gains) and losses          8,368                  -                  -
Income before income taxes        11,460        15,123        20,497
       
Provision for income taxes          4,281          4,600          6,204
Consolidated net income          7,179        10,523        14,293
Consolidated net income attributable to noncontrolling interest            (509)            (661)            (650)
Consolidated net income attributable to Walmart          6,670          9,862        13,643
Net income per common share:

 

 

 

Basic net income per common share attributable to Walmart 2.28 3.29 4.4
Diluted net income per common share attributable to Walmart 2.26 3.28 4.38
Weighted-average common shares outstanding:

 

 

 

Basic 2,929 2,995 3,101
Diluted 2,945 3,010 3,112
Dividends declared per common share 2.08 2.04 2.00
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Knowledge Booster
Ratio Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education