Calculate the profit margin and gross profit rate for the

Reference no: EM13589759

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.

Reference no: EM13589759

Questions Cloud

Calculate the percentage increase or decrease in cash for : review the following real-world hewlett packard statement of cash flows and address the two questions belowcash flow

During 2013 rachael parkins president of mathieson company : during 2013 rachael parkins president of mathieson company was paid a semimonthly salary of 6800. compute the amount of

Assume that the company also had 1000000 worth of : wicoms financial statements as of december 31 2006.preferred stock- 100000 shares authorized issued and outstanding 10

Barbara dowright believes that budgeting is the sole : barbara dowright believes that budgeting is the sole responsibility of accountants. you on the other hand disagree. you

Calculate the profit margin and gross profit rate for the : the following selected data was retrieved from the walmart inc. financial statements for the year ending january 31

Ais threats compare and contrast natural and political : ais threats. compare and contrast natural and political disasters with the unintentional acts as threats to accounting

When enron with 62 billion in assets declared bankruptcy in : when enron with 62 billion in assets declared bankruptcy in december 2001 it was the largest bankruptcy in u.s.

What would be sample company predetermined overhead : when sample company prepared their operating budget for 2013 they estimated that theyd have 100000 hours of direct

If a system has 500 times 102 kcal of work done to it and : question if a system has 5.00 times 102 kcal of work done to it and releases 5.00 times 102 kj of heat into its

User Account

All Pages