Reference no: EM131969063

Question - The following selected data was retrieved from the Walmart, 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.